Creditors owed money by FTX - Blockchain.News

Creditors owed money by FTX

FTX lawyers submitted its creditor matrix to the U.S. Bankruptcy Court on Jan. 25. The 115-page document lists creditors alphabetically. Airlines, hotels, charities, banks, venture capitalists, and media are creditors.

  • Jan 27, 2023 09:13
Creditors owed money by FTX

A comprehensive list of the creditors to whom the defunct cryptocurrency exchange FTX owed money has been made public. This list reveals the involvement of a wide variety of businesses and government organisations in the exchange's failure.

Late on the 25th of January, legal representatives for FTX submitted the company's creditor matrix to the United States Bankruptcy Court for the District of Delaware.

The huge document, which is 115 pages long, provides an alphabetized list of the names of the company's debtors.

The list depicts a huge global network of enterprises, including airlines, hotels, charities, banks, venture capital firms, media outlets, and cryptocurrency startups, along with U.S. and foreign government bodies, all of whom are owed money by the failed exchange.

However, the identities of roughly 9.7 million (9,693,985) FTX users who have assets that are frozen on the exchange have been removed from the document.

Companies like as Coinbase, Galaxy Digital, Yuga Labs, Circle, Bittrex, Sky Mavis, Chainalysis, Messari, and entities of Binance are examples of notable businesses associated to cryptocurrencies and Web3 that are owed money by FTX.

A number of major businesses in the IT industry, including Apple, Netflix, Amazon, Meta, Google, LinkedIn, Microsoft, and Twitter, were also listed as creditors.

Several other news organisations, including The New York Times, The Wall Street Journal, and CoinDesk, were named as possible sources.

The Internal Revenue Service (IRS) as well as the tax offices of a number of other state agencies in the United States were included.

Creditors also include foreign government agencies, including those from Japan, Australia, and Hong Kong, amongst others.

Not only does FTX owe money to huge corporations, but it also seems to owe money to apparently smaller firms, since a pest treatment company headquartered in Nassau and a garden store are also on the list.

M Group, the previous public relations agency used by the corporation, was listed as a creditor in the documents.

FTX had engaged the business to represent them, however the company has said that it has terminated its relationship with FTX due to the latter's insolvency.

The filing did not contain the amounts that were due by each business, and the fact that an entity was included on the list does not indicate that the entity had a trading account with FTX.

In earlier documents filed in November, attorneys for FTX predicted that the exchange may have more than a million unsecured creditors.

A former worker at FTX revealed information on the company's "moronically wasteful" luxury spending habits in a Twitter thread that was published in December.

There are several businesses on the list that allude to the company's previous exorbitant spending. For example, there are Uber Eats and Doordash entities from all around North America and Australia on the list, in addition to Airbnb and the names of many luxury hotels from all over the globe.

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