Sam Bankman-Fried’s FTX fiasco has muddled the financial world, leading to Bankman-Fried stepping down from his CEO post while FTX and its affiliates apply for bankruptcy. Following this, the cryptocurrency exchange platform said on Saturday, November 19, that it owed roughly $3.1 billion to its 50 major creditors. Surprisingly, FTX has more than a million creditors combined across all its platforms. Having said that, the new CEO, John J. Ray, has boasted about the possibility of recovering assets to pay off the creditors.
