FTX reported a $3.7 BILLION loss in its 2021 tax return. Also, its unsecured creditors are redacted in the company’s bankruptcy filing and they are owed an additional $3.1 BILLION. What’s going on?
FTX, the cryptocurrency exchange that went bankrupt only a few days ago, was in financial duress for some time. In the company’s bankruptcy filing, FTX mentions that it incurred a loss of $3.7 billion as recorded in its 2021 tax returns.
FTX bankruptcy filing discloses that in the 2021 IRS tax return, FTX lost a stunning $3.7 billion. “When you’re in a hole, stop digging.” @TuckerCarlson @FoxNews @theblaze @CharlesOrtel @elonmusk @chrismartenson @robertbarnes @barnes_law @ASavageNation pic.twitter.com/bIOXzsp1Ae
— Bob Bishop (@BobBish40288847) November 20, 2022
In addition, in the bankruptcy filing dated yesterday, the list of FTX creditors is redacted. This is a list of the 50 largest unsecured creditors. The largest five creditors are due nearly $1 billion ($226 million, $203 million, $174 million, $160 million, and $131 million). Who are they and why are they redacted?
The firm filed voluntary bankruptcy for its 102 subsidiaries as well.
FTX filed voluntary bankruptcy for its 102 subsidiaries. pic.twitter.com/8SefeH0tZz
— Bob Bishop (@BobBish40288847) November 20, 2022
The FTX collapse is leading to some very questionable and corrupt acts.
Hat tip Bob Bishop
