FTX-Linked Bank Settles Fed Action As It Prepares To Close

By Jon Hill · August 17, 2023, 12:37 PM EDT

The Federal Reserve said Thursday that it has imposed capital conservation requirements and other restrictions to facilitate the closure of Farmington State Bank, the tiny rural Washington state lender whose cryptocurrency...

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Bankruptcy Scorecard

Summary

Cryptocurrency exchange FTX filed for Chapter 11 on Nov. 11, 2022, after a rapid collapse in value.

Case Number

1:22-bk-11068

Judge

John Dorsey

Venue

U.S. Bankruptcy Court for the District of Delaware

Capital Structure

Total Liabilities:

Total liabilities are still to be determined, as a full plan has yet to be filed and FTX's tax liability is still being resolved. The IRS has filed a claim for $8 billion.

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