Financial advisers at bankrupt crypto exchange FTX have finally revealed the full list of the company’s institutional creditors in court filings late Wednesday. The document names the companies that FTX owes debt and provides an extensive view of the entities involved in the exchange’s bankruptcy.
Arranged alphabetically and at well over 100 pages in length, the document shows just how magnifying the impact of the FTX demise is, with tech companies from Apple to WeWork and wall street journal When CoinDesk.
The list does not contain specific amounts about how much each company in the creditor matrix owes, nor specific information about individual customers, more than 9.6 million of which are compiled from documents. Just because a company is on the list does not mean that company has his FTX trading account.
FTX, once a dominant player in the cryptocurrency industry, went bankrupt following a bank run on the exchange in November. The liquidity squeeze forced FTX to admit that its clients’ assets were not fully backed, and after a last-ditch attempt to sell the company to its main rival, Binance, ended in failure. I filed for bankruptcy. The company’s founder, Sam Bankman-Fried, has since been arrested and charged with eight financial crimes in connection with the exchange’s collapse.
So far, the dismantling of FTX has proven to be a long and complicated process, with former Enron liquidator John J. Ray overseeing the restructuring of the company.The filing of the creditors list was approved last Friday under Delaware Judge John Dorsey.FTX Attorney Estimate Earlier if the exchange could have well over a million creditors.
Previously, court documents revealed that FTX owed $3.1 billion to its top 50 creditors, though no specific names were mentioned. Certain filings have revealed that even FTX’s top 10 creditors alone each have more than $100 million of him in unsecured claims.
Wednesday’s matrix includes a number of companies unique to the digital assets industry, including Coinbase, Binance Capital Management, Chainalysis, Yuga Labs, Doodles and Silvergate Bank. Reddit, which rolled out his Polygon-based NFT avatar onto the platform last year, is also mentioned as a creditor.
But Silvergate is just one of several banks mentioned in a creditor matrix that lists the likes of CitiGroup and Wells Fargo. Companies that have invested in now-defunct ventures, such as Blackrock and Sequoia Capital, are also listed.
Some examples of companies mentioned may relate to money FTX owes for goods and services. listed as one of the 12 different creditors with Doordash in their name are listed in the matrix.
Multiple revenue divisions in many states across the United States, from Alabama to Wyoming, are also included in the creditor matrix. The credit matrix also outlines the Bahamas Treasury Department as a creditor in bankruptcy cases.
