Bankruptcy lawyer: Creditors may take years or even decades to recover funds from FTX

ChainCatcher news, Stephen Earel, a partner and bankruptcy lawyer at Co Cordis in Australia, stated that "liquidating" crypto assets during the liquidation process and then determining how to allocate the funds will be a massive undertaking. Additionally, this process will be complicated by cross-border bankruptcy issues and jurisdictional complexities, potentially taking years or even decades.

It is reported that FTX owes nearly $3.1 billion to its 50 largest creditors, with approximately $1.45 billion owed to the top 10 creditors, although the names of the creditors have not been disclosed. (Cointelegraph)