New documents have been shared on how much the FTX exchange owes customers. Recent reports on the bankruptcy process revealed that the exchange owes its customers $8.7 billion. After the latest data, a sudden increase was seen in the price of FTX Token (FTT).
The new report revealed that the company owed its customers $8.7 billion after they pooled and misused their deposits, and senior executives began hiding the issue as early as August 2022. According to the report, Sam Bankman Fried and Caroline Ellison knew about the vulnerability but created a fake client wallet to hide it.
It was learned that a large part of the $ 8.7 billion deficit, such as $ 6.4 billion, consisted of fiat and stablecoins. In addition, it was stated that 7 billion dollars of liquid assets have been recovered so far and additional assets may be found in the future.
After the report on the FTX exchange, a great increase was observed in the price of FTT. The native token of the bankrupt exchange rallied by over 30% within minutes, reaching as high as $1.44. However, with the lost momentum, it was returned to the $1.20 levels.
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