FTX lawyers continue to dispute the behemoth amount claimed by the Internal Revenue Service (IRS) from the now-defunct crypto exchange.
This amount could significantly impact the potential payouts to victims of the exchange’s collapse.
The Internal Revenue Service (IRS) is adding a layer of complexity to the ongoing FTX bankruptcy case. The agency, which is mandated with the responsibility of collecting U.S. federal taxes, is seeking around $24 billion from the defunct FTX crypto exchange. The legal tussle began in April when the agency filed a claim seeking around $44 billion. However, this was adjusted to $43 billion by September and has progressively fluctuated to $24 billion.
Despite this huge reduction, FTX lawyers continue to dispute and question the method used by the IRS to get this figure. Central to the lawyers’ argument is the history of financial losses and the absence of distributed dividends or earnings. These developments could have serious implications on the potent

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