FTX’s Creditor List Includes Big Tech, Airlines, Government Agencies
- Bankrupt crypto exchange FTX has filed a massive 115 page document listing every entity the company owes money to, from Big Tech players to government agencies.
- The names of close to 9.7 million individual customers were redacted from the document as per Judge John Dorsey’s instructions.
Former CEO of FTX Sam Bankman-Fried leaves the Federal Court in New York after pleading not guilty, 3 January, 2022.
lev radin/Shutterstock
Lawyers for bankrupt cryptocurrency exchange FTX have submitted an extensive list of creditors that shows which institutions the company owes money to, while leaving out the names of 9.7 million individual creditors.
The massive 115 page document was filed with the U.S. Bankruptcy Court for the District of Delaware late on 25 January, revealing that FTX owes money to government agencies, industry players, banks, law firms, VC firms, media outlets, and more. Earlier this month the judge who oversees the proceedings, John Dorsey, allowed the names of individual creditors to remain seald for three months, but requested an extensive list of institutions that invested in FTX to be released.
Under Judge Dorsey’s instructions, the names of close to 9.7 million FTX customers — previous estimations had put the number of FTX creditors around 1 million — were redacted from the document. Among the listed companies, however, are Big Tech players such as Apple, Netflix, Amazon, Meta, Google, LinkedIn, Microsoft, Adobe, and Twitter. The list also includes the tax offices of several U.S. state agencies, the Internal Revenue Service (IRS), as well as government entities in Japan, Hong Kong, Australia, and others.
The list of crypto and Web3-related companies includes Coinbase, Binance Capital Management, Chainalysis, Yuga Labs, Doodles, BlockFi, Circle, Galaxy Digital, Bittrex, Sky Mavis, Messari, and more. The names of several big airlines and media outlets were also listed, including American Airlines Group, Spirit Airlines, Southwest Airlines, the Wall Street Journal, Firtune, Fox Broadcasting, and CoinDesk.
Inclusion on the list, however, does not mean these entities had a trading account with FTX, just that they were creditors the exchange owed money to. The document also does not show the amount each one is owed, though FTX had previously revealed it owed more than $3 billion to its top 50 creditors, with sums ranging between $21 million and $226 million.
- The New York Jurors took 4 fours of deliberating before pronouncing the former FTX CEO guilty of all seven charges of fraud and conspiracy to commit fraud.
- Bankman-Fried will now have to appear in court on 28 March, 2024, where he will face a potential maximum sentence of 115 years in prison.
Former CEO of FTX Sam Bankman-Fried leaves the Federal Court in New York after pleading not guilty, 3 January, 2022.
lev radin/Shutterstock
- A little over $13 million in altcoins were sent to crypto exchanges Binance and Coinbase in the past 24 hours, which is in accordance with a September court order.
- The court ordered a phased liquidation process, which allows the bankruptcy estate to sell $3.4 billion worth of digital assets over a certain period of time.
- Joseph Pimbley, a member of litigation consulting firm PF2 Securities, will try to rebuff testimonies from Caroline Ellison, Gary Wang, Nishad Singh, and Adam Yedidia.
- During his testimony Pimbley will try to establish a timeline for the FTX-Alameda line of credit, and convince the jury it fluctuated between $1 billion and $3 billion between 2021 and 2022.