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Bankruptcy Filing Reveals China Was FTX’s Largest Client After Island Tax Havens

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A bankruptcy filing by the now-collapsed cryptocurrency exchange FTX revealed the platform’s global customer distribution at the peak of its operations. 

According to the documents, Cayman Island accounts for the highest share of customers at 22%, followed by the Virgin Islands at 11%. Notably, the two regions are mainly leveraged as tax havens. 

Interestingly, despite outlawing crypto transactions, mainland China represented the third largest share of FTX’s customers at 8%, the same value as Great Britain. Other notable sources of FTX customers included Singapore at 6% and the United States at 2%. 

Overall, the bankruptcy filings indicated that the exchange had customers in at least 27 countries globally. 

(By Paul L.)

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