FTX expects to sit at the negotiating table with the US government

Cryptocurrency exchange FTX is aiming to negotiate with the U.S. government to reduce its bankruptcy claim to $3 billion to $5 billion. According to a filing in Delaware bankruptcy court, FTX is expecting to negotiate with the U.S. government to reduce its bankruptcy claims to $3 billion to $5 billion. The estimates were made in court documents in response to claims by FTX founder Sam Bankman-Fried that he should receive a light sentence because the company can repay its customers “in full.” Meanwhile, FTX’s current CEO John Ray has denied Bankman-Fried’s claims in court filings that the exchange can repay its customers “in full.” Ray said that such statements by Bankman-Fried were a distortion of the situation. U.S. federal prosecutors said on Friday that Sam Bankman-Fried could face 40 to 50 years in prison after being found guilty of stealing $8 billion from customers of the now-bankrupt FTX cryptocurrency exchange. FTX went bankrupt in November 2022 Cryptocurrency exchange FTX went bankrupt in November 2022, and it was announced that the company's CEO Sam Bankman-Fried had resigned. Bankman-Fried was detained in the Bahamas in December following a criminal complaint by the US. Bankman-Fried, who denied the "fraud" charges against him, claimed that he made mistakes but never intended to steal funds. In his statement to the court, Bankman-Fried also argued that he acted in good faith and stated that he believed his actions were in accordance with FTX's policies prepared by lawyers.