SINGAPORE – Four Singapore government agencies which are not creditors of FTX have been included in a broad list of creditors of the collapsed cryptocurrency exchange, illustrating the difficulty of establishing a true picture of the tangled bankruptcy. Read more at straitstimes.com.
SINGAPORE – Four Singapore government agencies which are not creditors of FTX have been included in a broad list of creditors of the collapsed cryptocurrency exchange, illustrating the difficulty of establishing a true picture of the tangled bankruptcy.
But based on checks with the four Singapore government agencies, The Straits Times understands that they are not creditors nor do they owe any monies to FTX. After the crash, it emerged that FTX was made up of a web of more than 100 different companies. Court filings show that it expects to have more than one million individual creditors, withThe Jan 25 list contains thousands of entries, including an assortment of institutions, from banks to media companies, regulators and government agencies from around the world. The names of individuals are redacted.
Swiss Financial Market Supervisory Authority, or Finma, is among regulators on the list. FTX is reported to have made a failed bid for a trading licence in Switzerland. FTX’s new chief executive officer, Mr John Ray, who was brought in to take over from FTX founder and former chief executive officer Sam Bankman-Fried, has described FTX’s collapse ascalling it a “paperless bankruptcy” with a “complete absence of trustworthy financial information”.
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