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.
- SVB Financial Group has filed for a Chapter 11 court-supervised reorganization in the U.S. in order to “preserve value”.
- The company stressed it is no longer affiliated with Silicon Valley Bank, the closure of which sent ripples across the crypto industry.
Shutterstock
- A bankruptcy judge has denied the government’s request to halt the deal between Voyager and Binance, arguing that further delays would only harm customers.
- The government argued the deal should be amended, or struck down, because it seeks to effectively absolve Voyager and its staff of violations of tax or securities law.
- Bankruptcy Judge Michael Wiles gave Voyager the permission to close its $1 billion deal with Binance.US, and issue repayment tokens to affected customers.
- Judge Wiles also rejected the SEC’s arguments that the deal could potentially violate U.S. securities laws, and criticized the regulator for attacking the sale without first concluding if it was illegal.