Claims by US Government Against FTX Estimated at $3-5 Billion

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According to court documents, the amount of claims by the US government against the bankrupt FTX and its assets is estimated to be between $3 billion and $5 billion.

These claims include taxes and administrative costs, as well as claims from non-governmental creditors. The debtors have proposed using 100% of the proceeds from the damages awarded by the Southern District of New York (SDYN) to pay investors and customers.

After this, 25% of the remaining funds will be used to pay federal income tax claims, and the rest will be used to settle claims from the US Futures Trading Commission and other government agencies.

The funds received from these claims will be placed into the Civil Compensation Fund to pay FTX clients and creditors whose cryptocurrency value has increased since the filing of the bankruptcy petition.