It is known that FTX once sponsored its F1 team, but already pulled out from its deal and removed its logo. FTX Creditor Matrix Filed in Bankruptcy Proceedings Read more: FTX's Sam Bankman-Fried Borrowed From Alameda to Buy Robinhood Shares. The Committee and the FTX Debtors will announce when the portal is active. Probing the intersection of crypto and government. Also on the list: other crypto companies, including Binance and BlockFi, both of which have held supporting roles in the FTX saga: Bankman-Fried gave BlockFi a $400 million lifeline last year during that companys liquidity crisis. The specific filing made clear that FTX's top ten creditors alone have more than $100 million each in unsecured . FTX creditors list includes more than 50 Hong Kong institutions - MSN BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Instead, the unidentified creditor of a FTX bankruptcy claim worth . "As a result, inclusion of a name on the Matrix does not necessarily indicate that the party is a creditor of any of the Debtors," the filing said. FTX Debtors Receive Court Approval for Customer Bar Date of September 29, 2023. Related: Crypto lawyers to be in demand as regulatory pressure reaches boiling point. FTX's disgraced founder, Sam Bankman-Fried, stepped down as CEO earlier this month as the company filed for Chapter 11 bankruptcy protection. The names of nearly 9.7 million (9,693,985) FTX customers with funds stuck on the exchange were however redacted from the document. CoinDesk may not be alone. A Letter of Intent was signed with Binance. All of them were listed as. Sam Bankman-Frieds FTX also had several smaller creditors, including a Nassau-based garden center and pest control company. FTX Creditor List Reveals Wide Range of Businesses Owed Money On Jan. 24, 2023, FTX published the bankrupt firm's creditor ledger, which contains more than 100 pages of names. This document shows that of FTX's estimated 1 million creditors, the largest single claim is for $226 million and the second is for $203 million. What financial advisors need to know about crypto. Complete List of FTX Creditors Released: Details - Bitnation CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. FTX Owes Its 50 Biggest Unsecured Creditors More Than $3 Billion The list certainly paints a comprehensive picture of how far FTX's reach extended. In the coming months, more information is to be released to the court, and it could decide whether SBF was telling the truth or lying to the public about the company's money. All of this stems from the FTX bankruptcy issue, where its executives were speculated and allegedly stealing money from the company, also transferring them to other accounts. The latest moves in crypto markets, in context. But the 116-page FTX creditor list, which names companies including Netflix (NFLX) and Apple (AAPL), still . Payments, Small & In total, the unsecured claims labeled as such as they were not secured by collateral amount to $3.1 billion. Disclosure: To ensure our site's review data always stays free & running up to date, sometimes we might receive a small commission if the reader purchases through our site links, at zero additional cost. Your weekly wrap of Web3 news and trends. Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money. Why it matters: The document didn't answer the big question of what other companies are standing directly in FTX's blast radius. The list reveals the sprawling global web of companies from airlines, hotels, charities, banks, venture capital firms, media outlets and crypto companies along with U.S. and international government agencies all potentially owed money by the fallen exchange. Names could appear for "any number of reasons.". 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. Over the weekend, FTX released a list of its 50 largest unsecured creditors, showing they are owed nearly $3.1 billion. A former FTX employee also affirmed that the company has aknack for the pleasures in lifefor its staff. The names of nearly 9.7 million (9,693,985) customers who had their funds stuck on the platform were removed from the document. Dive, Become The extensive list of FTX's creditors was finally revealed after being sealed for three months. The Kroll documents also contain a list of 102 debtors, including many companies linked to Alameda Research and FTX, who have filed for Chapter 11 bankruptcy protection and requested joint administration of the relevant case.. Big Tech players Apple, Netflix, Amazon, Meta, Google, LinkedIn, Microsoft and Twitter were also included. More than $260 billion has been wiped off the value of the crypto market since Zhao's Nov. 6 tweet. The numbers were disclosed as FTX requested that multiple FTX group companies . Before making financial investment decisions, do consult your financial advisor. The identities of these creditors are not named . Due to a lack of liquidity, FTX recently announced that it would be unable to process withdrawals. Among other entities FTX owes money to, a hefty 115-page FTX creditor list includes The Wall Street Journal, Circle, Apple, Netflix, and Coinbase. 4 min read The FTX Arena in Miami seen from above. Jan 26, 2023. The information was submitted by FTX as part of its insolvency proceedings. FTX-linked entities owe their single biggest unsecured creditor more than $226 million, according to a redacted list of top 50 creditors filed late Saturday. It is important to note that a company's inclusion on the list does not necessarily mean it had a trading account with FTX. Previously, court documents revealed FTX owed its top 50 creditors $3.1 billion dollars alone, without mentioning specific names. Isaiah Richard, Tech Times 26 January 2023, 11:01 pm. The unwinding of FTX has thus far proved to be a long and complicated process, with former Enron liquidator John J Ray overseeing the restructuring of the company. The latest collapse to rock the market has raised questions over the opacity of big businesses in crypto, an industry often touted as more decentralized and transparent than traditional finance. The FTX creditor. According to the reports upon skimming the list, the documents filed to the court were confusing, especially as they included personal or team orders via DoorDash and UberEats listed from different locations. Regulators are now clamoring to set up more guardrails to protect against investor harm and risk of contagion. Many entities were included in the list including Netflix, The Wall Street Journal, Microsoft, Meta, Apple, and different individuals from Apple's IT department. The massive 115-page document details names in alphabetical order. The company appointed John J Ray as its new chief to oversee its restructuring. The transformation of value in the digital age. PDF In the United States Bankruptcy Court for The District of Delaware Crypto Markets Today: Bitcoin Clings to $23K, FTX's Creditor List Revealed Chainalysis Confirmed as FTX Creditor in Bankruptcy Case detailed the moronically inefficient luxury expenditures. The filing indicated that FTX owes money to universities, media companies, airlines, charities, and many others. Trevor Holman November 21, 2022 Last Updated: November 21, 2022 The FTX crisis has reached a new level of difficulty. Moreover, a pair of customers are claiming to have $200 million each in their dues. Among other entities FTX owes money to, a hefty 115-page FTX creditor list includes The Wall Street Journal, Circle, Apple, Netflix, and Coinbase. 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. A complete list of the creditors owed money by the bankrupt cryptocurrency exchange FTX has been released, revealing a myriad of companies and government entities wrapped up in its collapse. The business owes its unsecured creditors more than $3 billion, according to court documents. Media companies, universities, airlines and charities, among others, appear on the list, a court filing from Wednesday shows. Mr. Bankman-Fried has, himself, admitted that FTX customer funds were improperly transferred to Alameda's bank accounts.19 When asked how FTX customer deposits ended up in Alameda's accounts, Mr. Bankman-Fried told Vox that the company did not originally have a bank account, and so it directed customers to wire money to Alameda's account with Silvergate in exchange for Fee Amount $26 Transfer Agreement 3001 (e) 1 Transferor: CUSTOMER CODE 06031789 To CONTRARIAN FUNDS, LLC. Deep A mostly-unredacted list of FTX creditors is now available. The list also includes countless entries that read Name on File, references to the individual creditors who fought to be redacted from the list. 6 min read FTX Latest - Crypto Prices Fall as Filings Show Top 50 Creditors Are Owed $3.1 Billion, 2 Owed More than $200 Million Each A list of the top 50 creditors of the FTX group of companies has been filed with the bankruptcy court, and the sum total amounts to $3.1 billion. FTX's bankruptcy case includes more than 100,000 creditors, and this number could surpass 1 million, the filings said. FTX Creditors List Revealed: Airbnb, Netflix, and MOREDid it Really FTX owes 50 largest unsecured creditors $3.1B, $100M each to 10 - Fortune Following the FTX crisis, there is concern that any other platform will declare a liquidity crisis and lock its funds for an indefinite period of time. The Debtors are also working to obtain full access to customer data.. FTX Creditors | PDF | Bankruptcy | Companies - Scribd The creditor list revealed that now-bankrupt crypto exchange FTX owes money to several Web3 and crypto-related companies, including Circle, Chainalysis, Galaxy Digital, Yuga Labs, Coinbase, Bittrex, Messari, and entities tied to crypto exchange Binance. News and analysis for the professional investor. a FTX lawyers. Collapsed crypto exchange FTX outlined a "severe liquidity crisis" in U.S. bankruptcy filings, which said the group could have more than 1 million creditors, as regulators opened probes and the . Moreover, the filing explicitly clarified that their ten most eminent creditors possess unsecured claims of about $100 million. Bank of England Deputy Governor Jon Cunliffe said the FTX debacle has added greater impetus for regulators to act on crypto. The creditor matrix filed on January 25th to the United States Bankruptcy Court for the District of Delaware contains 115 pages of FTXs creditor names, laid out in alphabetical order. (Animated). What they're saying: All of the 50 . FTX Creditors List: Here is a Complete List of Who FTX Owes Money to FTX hired the firm to represent them, but the company said it ceased work with FTX upon its bankruptcy. Reddit, which rolled out Polygon-based NFT avatars on its platform last year, is also mentioned as a creditor. Although it's still unclear exactly how much each party was involved with the fallen exchange, the filing would appear to be an initial attempt to compile a list of . The New York Times, The Wall Street Journal and CoinDesk were among the media outlets mentioned. earlier in the case that the exchange could have well over 1 million creditors. Update (Jan. 27, 4:45AM UTC): Added clarifying statement from Jan. 26 filing by FTX. In total, the unsecured claims amount to $3.1 billion. In total, the unsecured claims amount to $3.1 billion. According to the filings, the highest debt to a single creditor amounts to $226 million. Among the entities on the list are Apple, Amazon, Bain Capital, Barstool Sports, Google, the revenue departments in states such as Connecticut, Mississippi and Pennsylvania and a host of other states, Netflix, Spotify, Time Magazine, The Wall Street Journal and Wells Fargo. There are stakeholders were working with whove identified what they see is a viable business, Ray has said. Companies that had also invested in the now-bankrupt venture, such as Blackrock and Sequoia Capital, are also listed. The tax offices of multiple U.S. state agencies and the federal Internal Revenue Service (IRS) were listed. Sign up for our free newsletter for the Latest coverage! Collapsed crypto exchange FTX owes top 50 creditors $3 billion - CNBC Crypto Day Trading VS Swapping: Whats More Rewarding? Related Article: Federal Prosecutors Seize Nearly $700 Million FTX Assets Connected to Sam Bankman-Fried. I am involved in a variety of different fields including social media marketing, cryptocurrencies, the fashion industry, and psychological research. The documentorganized alphabetically and well over a hundred pages longshows just how far the impact of FTXs collapse extends, listing tech companies from Apple to WeWork, and several media publications such as the Wall Street Journal and CoinDesk. The document was filed by lawyers for the company as part of the bankruptcy proceedings in the U.S. Bankruptcy Court in Delaware. Among those listed are media companies including the Wall Street Journal, Fortune, Fox Broadcasting and CoinDesk as well as big crypto firms including exchanges Coinbase (COIN) and Binance. Africa is quickly becoming one of the business world's most supercharged areas, with a burgeoning startup scene, expansive infrastructure projects, and capital pouring in from across the world. Wednesday's matrix highlights an array of digital asset corporations such . The specific filing made clear that FTXs top ten creditors alone have more than $100 million each in unsecured claims. The creditor matrix filed on January 25th to the United States . Crypto collapse: FTX family subpoenas, SBF witness tampering, Celsius Pharmacy CVS is listed as one of the exchanges corporate creditors, as well as Netflix and Comcast. This illustration photo shows a smart phone screen displaying the logo of FTX, the crypto exchange platform, with a screen showing the FTX website in the background in Arlington, Virginia on February 10, 2022. 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. The Full Tutorial. A number of government entities in the United States, Japan, Hong Kong, and Australia were listed among FTX creditors. Chainalysis Among Long List of FTX Creditors - Blockworks FTX creditors include Goldman Sachs, New York Times and Netflix - CNN FTX-linked entities owe their single biggest unsecured creditor more than $226 million, according to a redacted list of top 50 creditors filed late Saturday. Crypto Exchange FTX Files a 115-Page Creditor Matrix - BitDegree.org Bitcoin has dropped significantly from its all-time high. Do not reproduce without permission. The Brazilian supermodel and then-husband Tom Brady were famously invested in the company, even appearing in one of its Super Bowl ads. We respect your privacy & never send spam. The Securities and Exchange Commission and the Department of Justice are reportedly investigating what happened. Top 10 FTX creditors are owed $100 million-plus each - Crypto News Throughout the course of the trial and arresting the former CEO,Bankman-Fried plead not guiltyto the crimes pressed against him, despite his associates already admitting to their mistakes. This number is up from an earlier estimate of $5 billion but is still a significant shortfall. There is little clarity regarding the end of the FTX crisis. The bankruptcy proceeding and unwinding of FTX have proven to be long and arduous. FTX owes money to Tech Giants like Google, Amazon, and Meta According to a recent filing, several notable companies, including Google, Ant Group, Meta, Amazon, Netflix, Apple, LinkedIn and are listed as creditors of FTX. The companys prior public relations company, M Group, appeared as a creditor. Bitcoin Cash (BCH) Witnesses Dramatic Surge, Bitcoin Price Analysis: Gains of 85% Year-to-Date: 1 July 2023. Check 20+ newly published expert-made crypto courses. Chainalysis one of many creditors. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. BitDegree.org - An Independent Educational Initiative of Bringing Crypto Knowledge to The Masses | [emailprotected]. Jan 26, 2023 FTX creditor list shows airlines, charities and tech firms caught in collapse The over 100-page long document lists every entity FTX owes money to, from Big Tech players to. On top of that, the filing also named the federal US Internal Revenue Service (IRS) as one of the entities FTX owes money. Trevor Holman follows crypto industry since 2011. One creditor of bankrupted cryptocurrency exchange FTX decided not to sit and wait to get their money back. At the end of the day, were not going to be able to recover all of the losses here, John J. Ray III, who was appointed FTX CEO following the bankruptcy, said in December. A list of FTX's top 50 unsecured creditors, which excludes their names and other identifiable information, shows that the largest of them all is owed more than $226 million. In a December tell-all Twitter thread, a previous FTX employee detailed the moronically inefficient luxury expenditures of the business. Binances willingness to liquidate FTT tokens through the acquisition of the companys non-U.S. operations was formerly viewed as a way out of the enterprise. The filing didnt include what each entity was owed and inclusion on the list does not mean it had a trading account with FTX and doesn't necessarily mean it's a creditor, FTX later clarified. FTX's 116-Page Creditor List Includes Netflix and Apple - PYMNTS.com The creditors and investors are the ones who FTX needs to pay soon, and it all adds up to billions of dollars from the company, which may be a significant sum for them. Head to consensus.coindesk.com to register and buy your pass now. January 26, 2023 at 06:40 UTC (January 26, 2023) A 115-page long document listed all the creditors of FTX which included big tech players, local businesses in the Bahamas, airlines, charities, and media firms. A recent filing has now unveiled some notable names among the creditors. Take a look! One well-known name that does appear on the list is supermodel Gisele Bundchen via her charitable foundation who invested in FTX with then-husband Tom Brady and ended up getting sued for their troubles, along with other celebrity endorsers. CoinDesk journalists are not allowed to purchase stock outright in DCG. She does not own any crypto. FTX, once valued at $32 billion, collapsed in a matter of days after the CEO of Binance, a rival firm, said his exchange would liquidate its FTT tokens. FTX is presently attempting to restructure its empire; however, gaining everyones trust will be tough unless crypto ventures band together to support the revisions. Wednesdays matrix includes numerous companies native to the digital assets industry, such as Coinbase, Binance Capital Management, Chainalysis, Yuga Labs, Doodles, and Silvergate Bank. 2023 TECHTIMES.com All rights reserved. Get huge savings on the biggest crypto brands with custom discounts & deals. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 2023 Tech Times LLC. The 116-page index, which excludes the names of 9.7 million customers, indicates Netflix and Apple as creditors. FTX finds over $5 billion in liquid assets, argues customer names It is estimated that the names of around 9.7 million (9,693,985) creditors were redacted from the report. Moreover, the creditor matrix also includes Big Tech players, such as Amazon, Apple, Meta, Google, Microsoft, Twitter, LinkedIn, and Netflix. UPDATE (Jan. 27, 09:27 UTC): Rewrites headline; adds new filing from FTX saying the document is an exhaustive list of stakeholders starting in fifth paragraph. In a later Jan. 26 filing, the firm clarified the "inclusion of a name on the Matrix does not necessarily indicate that the party is a creditor.". But the 116-page FTX creditor list, which names companies including Netflix (NFLX) and Apple (AAPL), still paints a comprehensive picture of the failed crypto enterprise's reach and the impact of its collapse. The companys founder, Sam Bankman-Fried, has since been arrested and charged with eight financial crimes in connection with the collapse of the exchange. 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 extensive list of FTX's creditors was finally revealed after being sealed for three months. Official Committee of Unsecured Creditors of FTX @FTX_Committee. But Silvergate is only one of several banks mentioned in the creditor matrix, which lists others like CitiGroup and Wells Fargo. 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Get this delivered to your inbox, and more info about our products and services. FTX lawyers estimated earlier in the case that the exchange could have well over 1 million creditors. The credit matrix also outlines the Bahamas Ministry of Finance as a creditor in the bankruptcy case. It's the list everyone has been waiting for, minus 9.7 million redacted customer names. (No Underlying Document) Transfer/Assignment of Claim. The list is currently anonymous. Subscribe - We publish new crypto explainer videos every week! The liquidity crunch forced FTX to admit that customer assets were not fully backed, and it eventually filed for bankruptcy following an unsuccessful, last-ditch attempt to sell the company to its primary rival, Binance. Exploring the History of Bitcoin: What Was Bitcoin's Highest Price?