Following the collapse of the cryptocurrency exchange FTX around $3.1bn is owed to its largest creditors, with the largest creditor owed $226m (£189m).

The hearing, which took place in Delaware’s bankruptcy court this week, also found that around 8% of the creditors are British, leaving approximately 80,000 UK crypto traders out of pocket.

FTX is now being run by John Jay Ray, an insolvency professional, who was the key insolvency practitioner and handled the collapse of energy trading firm Enron after an accounting fraud scandal in 2001.