According to the court filing, FTX and other companies within it faced a rollover loss of approximately $3.5 billion.
FTX, which is called the second largest cryptocurrency exchange in the world, is experiencing troublesome processes. The bankruptcy of the popular stock market brought with it legal processes. Courts are digging deep into FTX cases. The crypto exchange, which has filed for Chapter 11 bankruptcy, has revealed its loss and asset situations. Among the data taken in the court records, the company’s loss balance sheet drew attention. Among the allegations made were that the company had gone bankrupt before and tried to hide it. Court reports indicated that the company had $3.7 billion in losses carried over from last year.
FTX Has a Billion-Dollar Loss
G, the architect of the billion-dollar collapse, began to enter court reports. According to one report, the stock exchange and its subsidiaries showed operating losses on their tax returns. According to these statements, the company collectively has at least $3.7 billion in carryover federal net operating losses.
Also, the consulting firm that kept the reports explained that the crypto company has historically not kept reliable books. According to the firm, there are discrepancies between the records.
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