Following the collapse of the once-powerful crypto exchange in November, recently leaked bankruptcy records revealed thousands of creditors to whom FTX owes money. According to documents submitted to the bankruptcy court by FTX’s advisors, the defunct crypto empire owes money to an astonishing variety of businesses, some of which are Wells Fargo & Co., JPMorgan Chase & Co., and Goldman Sachs Group Inc.
Industry Heavyweights As Creditors
The names of the individuals are concealed throughout a 116-page document that was submitted on Wednesday and details FTX’s creditors. The dossier comprises thousands of entries. However, the exhaustive list mentions powerful figures from across Wall Street as having some sort of association with Sam Bankman-Fried’s crypto exchange, which even rivaled Binance at one point in time.
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The list of creditors also includes commercial airlines, such as American Airlines, United Airlines, Southwest Airlines, and Spirit Airlines; media businesses, such as the New York Times and Wall Street Journal and several major players in the technology industry, including the likes of Netflix, Apple, and Metaverse-focused Meta. Besides these, the list includes Deutsche Bank AG, HSBC Bank, and MUFG Bank.
FTX’s Growing Concerns
The document does not reveal the total amount owed or the nature of the debt, as FTX has requested that the names of individual creditors, who were primarily customers of FTX, be withheld from public view. Even though the parties are included on the creditor list, it does not always imply that they had an FTX account.
In a statement that was submitted to the bankruptcy court on Thursday, attorneys for FTX stated that the list is designed to be extremely comprehensive for the purposes of service and it includes parties that may appear in the books and records of the debtors for a variety of reasons. According to a spokesman from Deutsche Bank, the company does not have any credit exposure to FTX, while a representative from Goldman Sachs was quoted as saying:
Goldman Sachs has not filed a claim against the debtors. This type of creditor matrix is prepared by the debtors for the purpose of providing notice to interested parties in a bankruptcy proceeding and is not necessarily evidence of a creditor relationship.
It is believed that FTX has more than one million creditors, with the top 50 creditors being due a total of more than $3 billion combined.
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Source: https://coingape.com/revealed-ftx-owes-money-to-these-industry-giants/