FTX Court Reports Reveal Serious Damages


According to the court filing, FTX and other companies involved in it faced losses from the transfer of about $ 3 and a half billion.

FTX, which is referred to as the second largest crypto currency exchange in the world, is experiencing troubled processes. The bankruptcy of the popular stock market brought legal processes with it. The courts are looking into the FTX incidents in depth. The crypto exchange, which has filed for chapter 11 bankruptcy, has revealed its loss and asset status. Among the data Deciphered in court records, the company’s loss balance sheet stood out. Among the allegations raised was that the company had previously Decommissioned and had tried to hide it. The company had a $3.7 billion loss from last year’s transfer, court reports said.

FTX Has a Billion Dollar Loss

G, the architect of the billion-dollar collapse, began to get into court reports. The stock exchange and its subsidiaries showed operating losses on their tax returns, according to a report. Collectively, the company has a federal net operating loss from the transfer of at least $3.7 billion, according to those filings.
In addition, the consulting firm that holds the reports explained that the crypto company has not historically kept reliable ledgers. According to the firm, there are discrepancies between the records.

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