IRS files $44 billion in claims against FTX Group

IRS files $44 billion in claims against FTX Group

Author: Robert Strickland (crypto-journalist)

IRS files $44 billion in claims against FTX Group
The Internal Revenue Service (IRS) has filed $44 billion in claims against the FTX group
Claims of federal agencies have priority over claims of other creditors in a bankruptcy case

The Internal Revenue Service (IRS) has filed lawsuits worth about $43.8 billion against the FTX group of companies. The federal agency has filed 45 claims against cryptocurrency-associated companies in bankruptcy, according to documents dated April 27 and 28 posted on the website of law firm Kroll.

According to FTX lawyers, which they filed with the court in November 2022, the number of creditors of the bankruptcy group could exceed 1 million.

CoinDesk reports that an agency spokesman declined to comment on the claims and said the law does not allow the IRS to confirm or deny information about the taxpayers' cases.

The FTX group's bankruptcy receivers reported in January of this year that the exchange has about $5.5 billion in assets, figures that have changed as management has found additional funds over the past few months: a court has allowed FTX to sell some assets, and the receivers have also demanded that politicians in the United States return the contributions they received from Sam Bankman-Fried and other former FTX executives.

Other news

Bitcoin Demand from ETFs in June Surpassed Miners' Capacity
What Will Happen to Bitcoin in the Coming Week
Bitcoin funds raised $887 million in one day
Bitcoin remains stable amid capital inflows into ETFs
The Fed's influence will remain key for Bitcoin in June, predicts 10x Research
Bitcoin Goals