Netflix, Binance, the Wall Street Journal, and filing shows are all owed money by FTX
Lawyers for the insolvent cryptocurrency exchange released a lengthy list of creditors, which includes publishing houses, airlines, academic institutions, and nonprofit organizations.
It is the list that everyone has been waiting for, yet 9.7 million customer identities have been redacted. The 116-page FTX creditor list, which includes names like Netflix (NFLX) and Apple (AAPL), still provides a thorough picture of the scope of the now-bankrupt crypto firm and the effects of its demise.
Lawyers for the insolvent cryptocurrency exchange released a lengthy list of creditors
A court document dated last Wednesday reveals that FTX owes money to a number of organizations, including media corporations, colleges, airlines, and charities. Attorneys for the business filed the paperwork as part of the bankruptcy proceedings at the Delaware bankruptcy court.
At a hearing in early January, Judge John Dorsey, who is presiding over the proceedings, let the identities of specific creditors to stay hidden for three months, but he asked FTX lawyers to file a list of the institutions that made investments in the company.
Media organizations including the Wall Street Journal, Fortune, Fox Broadcasting, and CoinDesk are among those named, in addition to significant cryptocurrency businesses like the exchanges Coinbase (COIN) and Binance. In relation to a podcast sponsorship agreement made in the fall that was never carried out, a spokeswoman for CoinDesk said the company is on the list despite not owing it anything meaningful.
The document also included information about American Airlines Group (AAL), Spirit Airlines (SAVE), and Southwest Airlines (LUV), as well as Stanford University, where FTX founder Sam Bankman-parents Fried’s are professors, and the credit union at the university.
Gisele Bundchen Charitable Giving is also included as a creditor on the list. The famously involved couple, a Brazilian supermodel and her then-husband Tom Brady, even made an appearance in the Super Bowl commercial for the business.
The amount due to each creditor is not specified in the paper, but the business previously disclosed that it owes its top 50 creditors a total of nearly $3.1 billion. The two biggest single claims against FTX’s previously anticipated 1 million creditors were for $226 million and $203 million.
U.S. regulators in New York have accused Bankman-Fried of fraud; he has entered a not guilty plea. Regulators are now demanding to put up more safeguards to protect against investor harm and the possibility of contagion, which has hurt the crypto markets and the reputation of the industry as a result of the collapse of FTX. In November, FTX filed for Chapter 11 bankruptcy in Delaware.
Hot off the FTX Presses:
Find redacted 115-page FTX Creditor List (33% US based; 9,693,985 Customer Names redacted) at:https://t.co/5RQougthxk
Find 106 FTX-related Bankruptcies List at:https://t.co/GcrO4K500u
FTX claims to owe $3B to the top 50 of its estimated 1M creditors. pic.twitter.com/a0kFlXhSNy
— John Reed Stark (@JohnReedStark) January 26, 2023
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