Shocking Revelation: FTX.com Owes Customers $8.7 Billion, Accused of Misusing Deposits

By Lola Coin Jun 26, 202358Views

According to a report released on Monday, the now defunct FTX.com crypto exchange owes customers approximately $8.7 billion. The report accuses the previous management of the company of mixing and misusing customer deposits. CEO and Chief Restructuring Officer John J. Ray III stated that the image FTX Group portrayed as a customer-focused leader was a deception. He claimed that the company commingled customer deposits with corporate funds from the start and misused them under the direction of senior executives. The report is part of a series examining the problems that led to the company’s bankruptcy filing. A review by debtors is still ongoing.

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