Financial advisors for bankrupt cryptocurrency exchange FTX published an extensive list of the company’s creditors, excluding the names of 9.7 million customers. Creditors include companies like Netflix, Apple, and the Wall Street Journal.
The extensive list of FTX’s creditors was finally revealed after being sealed for three months. The 116-page index, which excludes the names of 9.7 million customers, indicates Netflix and Apple as creditors. The list certainly paints a comprehensive picture of how far FTX’s reach extended. It is important to note that a company’s inclusion on the list does not necessarily mean it had a trading account with FTX. The document was filed by FTX’s lawyers as part of its bankruptcy proceedings in the U.S. Bankruptcy Court in Delaware after Judge John Dorsey, who oversees the proceedings, requested a list of the names of institutions that invested in FTX. Judge Dorsey first allowed individual creditors’ names to be sealed for three months.
The filing indicated that FTX owes money to universities, media companies, airlines, charities, and many others. The list names explicitly the Wall Street Journal, American Airlines Group, and Stanford University, where the parents of Sam Bankman-Fried work, as entities to which FTX owes money. Included in the list is Giselle Bundchen Charitable Giving – Bundchen and her former husband, Tom Brady, famously invested in the FTX and even appeared in the company’s Super Bowl ad.
The filing has also been redacted to exclude the amount each creditor is owed, but the company previously revealed that it owed $3.1 billion to its top 50 creditors. The bankruptcy proceeding and unwinding of FTX have proven to be long and arduous. The company appointed John J Ray as its new chief to oversee its restructuring. Ray is famous for liquidating and supervising the restructuring of Enron. In a recent interview with the Wall Street Journal, Mr. Ray said despite the difficulties, he is exploring the possibility of restarting FTX.com – FTX’s main international exchange.
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