IRS Files $44 Billion Claim Against FTX
The United States Internal Revenue Service (IRS) has filed claims totaling $44 billion against various FTX entities in the ongoing bankruptcy proceedings of the collapsed crypto exchange, according to recent court filings.
The staggering figure includes multiple tax assessments, interest, and penalties tied to the operations of both FTX and its affiliated companies. The largest single claim — approximately $20.4 billion — was filed against Alameda Research, the trading firm co-founded by former FTX CEO Sam Bankman-Fried.
Alameda Research Owes Over $20 Billion in Taxes
The IRS’s claim against Alameda Research stems from unpaid partnership and income taxes. Other substantial claims were filed against FTX Trading Ltd. and affiliated entities, reflecting a wide range of tax obligations that the agency alleges were never properly settled.
The IRS’s involvement introduces a new layer of complexity to an already tangled bankruptcy case that has seen creditors, customers, and investors fighting for recovery since FTX’s collapse in November 2022.
A New Challenge for the FTX Bankruptcy Estate
FTX’s bankruptcy, one of the largest in crypto history, has involved billions in customer losses and allegations of fraud and mismanagement. The newly filed IRS claims could further complicate the estate’s efforts to return funds to users and other creditors.
Legal experts note that tax claims typically receive high priority in bankruptcy proceedings, which could significantly impact the distribution of assets among FTX’s remaining stakeholders.
Growing Regulatory Pressure on Crypto Firms
The IRS’s aggressive pursuit of unpaid taxes from FTX highlights the growing scrutiny facing the cryptocurrency industry from U.S. regulators and tax authorities. Following the exchange’s collapse, federal agencies have intensified efforts to ensure compliance and accountability within the digital asset sector.
Meanwhile, former FTX CEO Sam Bankman-Fried continues to face multiple criminal charges related to fraud, money laundering, and campaign finance violations, with his trial expected to begin later this year.
FTX Creditors Face Further Delays
As the bankruptcy process continues, the IRS’s massive claims may delay the resolution of customer reimbursements and further extend the legal proceedings. The sheer scale of the $44 billion tax demand — combined with other creditor claims — underscores the far-reaching consequences of the FTX collapse on both the crypto market and U.S. financial oversight.
The court will determine the validity and priority of the IRS’s claims in upcoming hearings, marking another critical chapter in the ongoing FTX saga.
