Netflix, Apple, and WSJ Were Creditors to FTX, Filings Show
FTX’s lawyers have at last published a comprehensive, 116-page list of all creditors to the now defunct crypto exchange.
Though roughly 9.7 million customer names are left redacted, the filing shows that FTX’s connections spanned from airlines to universities, to media giants.
FTX’s Creditors
The list, filed on Wednesday, shines a light on institutions invested in the company, per the request of Judge John Dorsey, who is overseeing the proceedings. During a meeting in early January, he allowed for the names of individual creditors to be kept private for another 3 months.
Some of the named creditors include household names in tech and other areas: Netflix, Apple, and the Wall Street Journal to name a few. The nature of FTX’s debt to such companies is not disclosed in the document, nor is the size of that debt.
Apple is yet to announce a corporate investment in cryptocurrencies, though its CEO Tim Cook confirmed in November 2021 that he includes some combination of Bitcoin and Ethereum in his portfolio. Meanwhile, the Wall Street Journal frequently covers crypto-related stories but has often been criticized for its seemingly favorable coverage of FTX’s former boss, Sam Bankman-Fried (SBF).
Other media companies named included Fortune, Fox Broadcasting, CoinDesk, and the crypto-focused YouTube channel Altcoin Daily. American Airlines and Stanford University was also listed – the latter being where Sam Bankman-Fried’s parents once worked as professors.
On the crypto front were names like Coinbase and Binance – arguably FTX’s greatest competitors. The heads of both firms suspected FTX of unduly tampering with customer funds shortly after the exchange froze withdrawals in early November.
Bankman-Fried has repeatedly blamed Binance CEO Changpeng Zhao for precipitating the crash that wiped out his exchange. Zhao announced the weekend prior that Binance would exit its $500 million position in FTT.
The Biggest FTX Creditors
A redacted document naming just a few of FTX’s top 50 unsecured creditors named Genesis at the top of the bunch, being owed $226 million. The crypto trading firm was also forced into bankruptcy after losing money within FTX.
FTX previously revealed that, in total, its top 50 creditors are owed $3.1 billion.
On Wednesday, leaked documents showed that BlockFi has $1.2 billion of exposure to Bankman-Fried’s companies including $415.9 million to FTX and $831.3 million to Alameda Research.
The post Netflix, Apple, and WSJ Were Creditors to FTX, Filings Show appeared first on Crypto Adventure.
Filed under: Bitcoin - @ January 26, 2023 4:21 pm