New Filing Shows FTX Creditors Include Netflix, Apple, Binance and Coinbase
The FTX creditor list is a document that reveals the extent of the crypto enterprise's reach and the impact of its bankruptcy. The list is 116 pages long and includes notable companies such as Netflix and Apple. However, it should be noted that 9.7 million customer names have been redacted from the document.
According to a court filing from Wednesday, FTX has debt obligations to a variety of institutions including media companies, universities, airlines, and charities.
Some notable examples include publications like the Wall Street Journal, Fortune, Fox Broadcasting and CoinDesk, crypto companies such as Coinbase and Binance, and airlines American, Spirit and Southwest.
The document also includes the Gisele Bundchen Charitable Giving as a creditor. The Brazilian supermodel and her former partner, Tom Brady, were known to have invested in the company and even featured in one of its advertisements during a major American football event.
The Judge overseeing the case, John Dorsey, has granted a temporary seal on the names of individual creditors for a period of three months but requested that a list of institutional investors be made available by the company's legal representatives.
Notably, the document did not include amounts owed by each party but previous filings showed that FTX owed around $3.1 billion to its top 50 creditors. Of the estimated one million creditors, the two largest claims were for over $200 million each.
Sam Bankman-Fried has entered a plea of not guilty in response to accusations of fraud brought forth by U.S. regulatory authorities in New York. The downfall of the FTX crypto exchange has had a negative impact on crypto markets and the overall perception of the industry. At one point, FTX was the second-largest crypto exchange in terms of daily trading volume, ranking just after Binance.
Regulatory bodies have been pushing for stronger measures to safeguard against potential harm to investors and potential negative effects on the overall market.