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International Business Times

Business

Nica Osorio

FTX Warns Of Potential Delay In Customers' Compensation Amid IRS' $24B Tax Claim

FTX IRS United States Barbara Fried Joseph Bankman Crypto Alameda Research Bitcoin Delaware SBF

KEY POINTS

Since May 2023, the IRS has been trying to collect tax arrears from the now-bankrupt crypto firm and its sister company Alameda Research
IRS had initially claimed $44 billion across more than 40 claims against FTX and its subsidiaries
FTX filed a lawsuit against SBF's parents in September accusing them of exploiting "their access and influence"

The now-bankrupt cryptocurrency exchange platform FTX warned of a potential slowdown of the return of customers' funds amid the proposed $24 billion tax bill from the United States Internal Revenue Service (IRS).

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