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Creditors owed money for FTX

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Creditors owed money for FTX

Source: blockchain.news

A full list of creditors that the defunct cryptocurrency exchange FTX owed money to has been made public. This list reveals the involvement of a wide variety of companies and government organizations in the failure of the exchange.

Late on January 25, FTX’s legal representatives filed the company’s creditor matrix with the United States Bankruptcy Court for the District of Delaware.

The massive 115-page document provides an alphabetical list of the names of the company’s debtors.

The list shows a huge global network of companies, including airlines, hotels, charities, banks, venture capital firms, media and cryptocurrency startups, along with US and foreign government agencies, to whom they are owed money for the failed exchange.

However, the identities of approximately 9.7 million (9,693,985) FTX users who have assets frozen on the exchange have been removed from the document.

Companies like Coinbase, Galaxy Digital, Yuga Labs, Circle, Bittrex, Sky Mavis, Chainalysis, Messari, and Binance entities are examples of notable businesses associated with cryptocurrency and Web3 that FTX owes money to.

Several major companies in the IT industry, including Apple, Netflix, Amazon, Meta, Google, LinkedIn, Microsoft and Twitter, were also listed as creditors.

Several other news organizations, including The New York Times, The Wall Street Journal, and CoinDesk, were named as possible sources.

The Internal Revenue Service (IRS) was included, as well as the tax offices of various other state agencies in the United States.

Creditors also include foreign government agencies, including those of Japan, Australia, and Hong Kong, among others.

FTX not only owes money to large corporations, but also appears to owe money to ostensibly smaller companies, as a Nassau-based pest treatment company and a garden store are also on the list.

M Group, the former public relations agency used by the corporation, was listed as a creditor in the documents.

FTX had hired the company to represent them, however the company has said it has ended its relationship with FTX due to the latter’s insolvency.

The filing did not contain amounts owed by each business, and the fact that an entity was listed does not indicate that the entity had a business account with FTX.

In previous documents filed in November, FTX lawyers predicted that the exchange could have more than a million unsecured creditors.

A former FTX employee revealed information about the company’s “insanely wasteful” luxury spending habits in a Twitter thread published in December.

There are several companies on the list that allude to the company’s previous exorbitant expenses. For example, there are Uber Eats and Doordash entities from across North America and Australia on the list, in addition to Airbnb and the names of many luxury hotels around the world.

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