Which cryptocurrencies have been affected by the FTX bankruptcy?

Genesis Global Capital, the Gemini crypto exchange, and BlockFi, a crypto lending platform with significant exposure to FTX , have all been affected by the FTX bankruptcy. The lending unit of cryptocurrency investment bank Genesis suspended redemptions and new loans due to the collapse of FTX on Nov. 16.

Is FTX transferring stolen cryptocurrency to other exchanges?

FTX on Sunday warned that cryptocurrency stolen in the final stages of its collapse was being transferred to other exchanges. The allegedly stolen cryptocurrency was worth $270m on Sunday, according to analysts tracking the transactions. FTX asked other exchanges to help to return the assets to the bankruptcy court.

Why did FTX collapse?

FTX, backed by elite investors like BlackRock and Sequoia Capital, rapidly became one of the biggest crypto exchanges in the world. Its collapse was preceded by the decision to lend billions of dollars’ worth of customer assets to fund risky bets by Alameda, Bankman-Fried’s crypto hedge fund, The Wall Street Journal reported on Thursday.

How much does FTX owe its creditors?

The exchange owes about $1.45bn to its top 10 creditors, it said in a court filing over the weekend, without naming them. The largest creditor is owed $226m. The collapse of FTX rocked the cryptocurrency industry and reduced the paper fortune of its 30-year-old founder, Sam Bankman-Fried, from more than $15bn to almost nothing in a matter of days.