ftx creditor list pdf

FTT, the native token of FTX, plunged as a result, leading to a liquidity crunch at FTX. Lawyers representing FTX and affiliates said in a bankruptcy motion on Monday that as many as one million creditors could be named in the suit. 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. To streamline the process for customers, the FTX Debtors are finalizing an online claims portal at https:// claims.ftx.com, which will be launched in the coming days. We strive to present all the information & pricing as accurately as possible, but we cannot ensure that the data is always up to date. Bankman-Fried has been accused by his peers in the crypto industry of flagrant mismanagement and fraud. Big Tech players Apple, Netflix, Amazon, Meta, Google, LinkedIn, Microsoft and Twitter were also included. Sign up for our free newsletter for the Latest coverage! Some instances of companies being mentioned could pertain to money owed by FTX for goods and services. Probing the intersection of crypto and government. 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. The companys prior public relations company, M Group, appeared as a creditor. FTX lawyers estimated earlier in the case that the exchange could have well over 1 million creditors. Sam Bankman-Frieds FTX also had several smaller creditors, including a Nassau-based garden center and pest control company. SUBSCRIBE Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. FTX Reveals Top 50 Creditors Are Owed $3.1 Billion, Seeks To Keep Their Names Confidential. American Airlines Group (AAL), Spirit Airlines (SAVE) and Southwest Airlines (LUV), as well as Stanford University where FTX founder Sam Bankman-Fried's parents work as professors and the university's credit union were also listed in the document. The motion also requested relief from filing a list of the top 20 creditors for each of the 134 FTX affiliated entities that filed for Chapter 11 bankruptcy asking . Exploring the History of Bitcoin: What Was Bitcoin's Highest Price? Company released redacted list of 50 largest creditors, Top 50 claims range from $21 million to $226 million. However, the controversy now is the many names and entities under this list, and frankly, there are significant lapses from its list, especially as it also has different meal orders and hotel bills included. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. News and analysis for the professional investor. The bankruptcy proceeding and unwinding of FTX have proven to be long and arduous. The list certainly paints a comprehensive picture of how far FTX's reach extended. Bitcoin and other cryptocurrencies were trading lower Monday. The Top 50 List is based on the Debtors currently available creditor information, including customer information that was able to be viewed but is not otherwise accessible at this time, the document, prepared by bankruptcy lawyers, reads. Suvashree Ghosh reports. A lawyer for FTX said Wednesday in a Federal bankruptcy hearing in Delaware that lawyers have located over $5 billion of cash, liquid cryptocurrency, and other liquid investments belonging to the. Trade Easily: Learn How to Buy BTC with Apple Pay, How Does a Bitcoin ATM Work? Jan 26, 2023. Head to consensus.coindesk.com to register and buy your pass now. Track Crypto Portfolio, Get Signals & Earn. The transformation of value in the digital age. Disclaimer: This article is provided for informational purposes only. FTX's creditors' list has been filed to the court after an order from Delaware district Judge John Dorsey who asked to take it out of sealing, and onto the public. While bankruptcy code usually would require FTX and its associated companies to file a list of the top 20 creditors for each debtor entity, such as FTX, FTX US, and Alameda Research, its lawyers . Embattled cryptocurrency exchange FTX owes its creditors north of $3 billion, according to a new filing over the weekend. Topics, Editors The Full Tutorial. 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. Regulators are now clamoring to set up more guardrails to protect against investor harm and risk of contagion. Bank Giant Bigger Than Morgan Stanley Arises From India Merger, AI Obsession Powers $5 Trillion Nasdaq 100 Surge: Markets Wrap, Hotel in Italy Named Best in World in New Global List, The Most Romantic City in France Is Not Paris, and Other Travel Advice. The 116-page index, which excludes the names of 9.7 million customers, indicates Netflix and Apple as creditors. It is worth highlighting that despite listing the names of its creditors, FTX did not disclose what FTX owes to each creditor. "Amid the frenzied scramble to divulge all of FTX's dirty secrets, including where the fate of those $8 billion in stolen client funds which were handed over to Alameda ahead of the largest crypto exchange bankruptcy in history, there is one topic . 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 total, the unsecured claims amount to $3.1 billion. ON YOUTUBE. 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. More than $260 billion has been wiped off the value of the crypto market since Zhao's Nov. 6 tweet. The creditor list filing was approved last Friday under Judge John Dorsey in Delaware, where the high-profile bankruptcy case continues to play out. We have gathered similar news articles for you to spare your time. 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The document does not reveal how much each creditor has owed, although FTX has said that it owes about $3 billion to the top 50 of its estimated 1 million creditors following its implosion and bankruptcy last year. What they're saying: All of the 50 . It's the list everyone has been waiting for, minus 9.7 million redacted customer names. FTX's Creditor Listwas already filed in court, and it mentioned many names in the list that mentioned different celebrities and personalities, as well as renowned companies who were once affiliated with the crypto exchange. In total, the unsecured claims labeled as such as they were not secured by collateral amount to $3.1 billion. Likewise, Ether fell to $1,120.61, a 7% decrease, and was listed on the market. 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. The FTX crisis has reached a new level of difficulty. In total, the unsecured claims amount to $3.1 billion. Some entities on the list could point to the companys prior excessive expenditures, with Uber Eats and Doordash entities from all over North America and Australia on the list along with Airbnb and the names of multiple luxury hotels around the world. (Animated). One of the most controversial issues in the cryptocurrency industry last year was theimploding of FTX, under Sam Bankman-Fried, who also resigned as its CEO after breaking the news to the world. The one-hour program features market and geopolitical discussions with a rotating panel of influential voices including thought leaders, CEOs, policy makers and economists. Many entities were included in the list including Netflix, The Wall Street Journal, Microsoft, Meta, Apple, and different individuals from Apple's IT department. A Division of NBCUniversal. Wednesdays matrix includes numerous companies native to the digital assets industry, such as Coinbase, Binance Capital Management, Chainalysis, Yuga Labs, Doodles, and Silvergate Bank. Of FTXs previously estimated 1 million creditors, the two-largest single claims were for $226 million and $203 million. 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. The company went bankrupt and all of its money was lost along the process, and all points out to its executives during these times. Check the analysis report on Top-rated Crypto Wallets that are safest for your funds. 22-11068 (JTD) (Joint Administration Pending) NOTICE OF FILING OF CONSOLIDATED LIST OF TOP 50 CREDITORS . I am involved in a variety of different fields including social media marketing, cryptocurrencies, the fashion industry, and psychological research. articles a month for anyone to read, even non-subscribers! Names could appear for "any number of reasons.". The latest news, articles, and resources, sent to your inbox weekly. Among other entities FTX owes money to, a hefty 115-page FTX creditor list includes The Wall Street Journal, Circle, Apple, Netflix, and Coinbase. Get huge savings on the biggest crypto brands with custom discounts & deals. The 116-page document, filed by the company late Wednesday (Jan. 25), shows that FTX owes money to investment firms, tech companies, banks, media outlets, state governments, the finance. The Securities and Exchange Commission and the Department of Justice are reportedly investigating what happened. FTX creditors include Goldman Sachs, New York Times and Netflix | CNN Business Markets DOW 33,926.74 0.63% S&P 500 4,378.41 1.15% NASDAQ 13,555.67 1.65% Fear & Greed Index 72 Latest Market. A list of FTX's top 50 unsecured creditors shows the largest lender of the bunch is owed more than $226 million. One of the most famous names here on the list is Tom Brady and his former wife Giselle Bndchen, and according toGizmodo, the latter was listed under Gisele Bndchen Charitable Giving. David Westin speaks with top names in finance about the week's biggest issues on Wall Street. A companys inclusion on the list doesnt necessarily mean that the entity had a trading account with FTX. 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. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. "We should not wait until it is large and connected to develop the regulatory frameworks necessary to prevent a crypto shock that could have a much greater destabilizing impact," Cunliffe said in a speech Monday at Warwick Business School. 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. Your weekly wrap of Web3 news and trends. Court documents have previously revealed that FTX owes its top fifty creditors a total of $3.1 billion without disclosing any specific names. 4 min read The FTX Arena in Miami seen from above. 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. Moreover, it also included ludicrous payments on luxury hotels all over the world, as well as private chefs, apartments, and more. The creditor list filing was approved last Friday under Judge John Dorsey in Delaware, where the high-profile bankruptcy case continues to play out. My passions lie in cooking, cryptocurrencies, studying human behaviour, teaching English as a foreign language, and researching digital consumer psychology. The credit matrix also outlines the Bahamas Ministry of Finance as a creditor in the bankruptcy case. FTX's bankruptcy case includes more than 100,000 creditors, and this number could surpass 1 million, the filings said. Page 11 of 115 Case 22-11068-JTD Doc In re: FTX Trading Ltd., et al. Judge John Dorsey, who is overseeing the proceedings, allowed the names of individual creditors to remain sealed for three months at a hearing in early January, but requested a list of institutions that invested in the company to be filed by FTX lawyers. The list is currently anonymous. It is estimated that the names of around 9.7 million (9,693,985) creditors were redacted from the report. Subscribe to our mailing list to receive weekly 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.. Commerce, Real-Time But Silvergate is only one of several banks mentioned in the creditor matrix, which lists others like CitiGroup and Wells Fargo. BitDegree.org - An Independent Educational Initiative of Bringing Crypto Knowledge to The Masses | [emailprotected]. 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. Get this delivered to your inbox, and more info about our products and services. The 116-page document, filed by the company late Wednesday (Jan. 25), shows that FTX owes money to investment firms, tech companies, banks, media outlets, state governments, the finance ministries of Vietnam, India and Japan and other crypto firms. Were always on the lookout for opportunities to partner with innovators and disruptors. We respect your privacy & never send spam. Bitcoin has dropped significantly from its all-time high. News and analysis for the professional investor. What is NFT rarity, and how to calculate it? Do not reproduce without permission. FTX may have more than 1 million creditors, according to an earlier bankruptcy filing. Cointelegraph covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money. Be the first in row to get this feature and the latest updates. The over 100-page long document lists every entity FTX owes money to, from Big Tech players to local businesses near its Bahamian headquarters. The document doesn't show the amount each is owed, but the company had previously revealed it owed about $3.1 billion to its top 50 creditors. In the meantime, the FTX Debtors group and the restructuring committee overseen by Ray have identified $5.5 billion in liquid cash and assets in the FTX estate. Payments, Small & But the 116-page FTX creditor list, which names companies including Netflix (NFLX) and Apple (AAPL), still . A mostly-unredacted list of FTX creditors is now available. Late on Jan. 25, lawyers for FTX filed its creditor matrix to the United States Bankruptcy Court for the District of Delaware. In other FTX-related news, a newly appointed FTX CEO, John Ray III, is reportedly exploring ways to restart operations of FTXs main international exchange, FTX.com. The identities of these creditors are not named . FTX filed for Chapter 11 bankruptcy protection in Delaware in November. 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. 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.". The recent filings by FTX have revealed that not just unsecured creditors but a pair of customers are also on the list with huge amounts in their names. FTX's anonymous creditors. Reddit, which rolled out Polygon-based NFT avatars on its platform last year, is also mentioned as a creditor. Moreover, the creditor matrix also includes Big Tech players, such as Amazon, Apple, Meta, Google, Microsoft, Twitter, LinkedIn, and Netflix. 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 second-biggest unsecured creditor is claiming over $203 million in unpaid debts from FTX. FTXs largest creditors have claims ranging from hundreds of millions to tens of millions of dollars, according to a recently filed court document. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. On Thursday, FTX said it has credible evidence that the exchange had moved assets to the custody of the Bahamian government. All Rights Reserved. This document shows that of FTXs estimated 1 million creditors, the largest single claim is for $226 million and the second is for $203 million. The companys founder, Sam Bankman-Fried, has since been arrested and charged with eight financial crimes in connection with the collapse of the exchange. Crypto investors have been burned by a number of high-profile failures this year which have led to ripple effects. It's the list everyone has been waiting for, minus 9.7 million redacted customer names. Private Company. I have completed an undergraduate degree in Industrial Sociology and Labour Studies, majoring in Sociology, Anthropology, and Psychology, and a postgraduate degree in Applied Psychology for Professional Contexts. A list of FTX's top 50 unsecured creditors shows the largest lender of the bunch is owed more than $226 million. The creditor matrix doesn't only include large entities but seemingly smaller businesses too, as a Nassau-based pest control business and a garden center appear on the list. Chainalysis one of many creditors. The extensive list of FTX's creditors was finally revealed after being sealed for three months. FTX Creditors Include Apple, Netflix and Coinbase, Court Documents Reveal. She does not own any crypto. Payments, More CoinDesk may not be alone. FTX's disgraced founder, Sam Bankman-Fried, stepped down as CEO earlier this month as the company filed for Chapter 11 bankruptcy protection. 2023 Tech Times LLC. Case No. WATCH: Sam Bankman-Frieds bankrupt crypto empire FTX owes its 50 biggest unsecured creditors more than $3 billion. Congrats, youve been granted an access to the exclusive Crypto 101 Handbook! 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. Gain your Crypto XP by learning crypto & redeem your rewards later. The collapse of FTX has damaged crypto markets and the industry's reputation. 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. PLEASE TAKE NOTICE that on the date hereof, FTX Trading Ltd. and its affiliated debtors and debtors-in-possession, filed the consolidated list of top 50 creditors (the The identities of these creditors are not named, but collectively they are owed approximately $3.1 billion. Over the weekend, FTX released a list of its 50 largest unsecured creditors, showing they are owed nearly $3.1 billion. It is known that FTX once sponsored its F1 team, but already pulled out from its deal and removed its logo. FTX, a once-dominant player in the cryptocurrency industry, collapsed following a bank run on the exchange in November. 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. Bank of England Deputy Governor Jon Cunliffe said the FTX debacle has added greater impetus for regulators to act on crypto. WILMINGTON, Del., June 28, 2023 /PRNewswire/ -- FTX Trading Ltd. (d.b.a. Learn by real-life examples: Select, Track & Understand any cryptos with the unique Learnlist feature! A media company for the web 3.0 age. Twelve different creditors that include Doordash in their name are listed in the matrix. Watch short courses, learn about trending crypto projects & get huge rewards! A number of government entities in the United States, Japan, Hong Kong, and Australia were listed among FTX creditors. In a December tell-all Twitter thread, a previous FTX employee detailed the moronically inefficient luxury expenditures of the business. Medium It is worth noting that not all investors information was revealed in the creditor matrix. In documents filed to bankruptcy court in Delaware on Wednesday, Chainalysis was identified as a creditor and asked for any relevant materials to be sent to its lawyers. FTX has engaged Sullivan & Cromwell as well as Landis Rath & Cobb as bankruptcy lawyers. What financial advisors need to know about crypto. He is also an avid trader. It includes investment banks, such as Goldman Sachs and JPMorgan; media companies, such as the New York Times and Wall Street Journal; commercial airliners, including American, United, Southwest, and Spirit; as well as several large tech players, including Netflix, Apple, and Meta. Set your wallet & get powerful insights backed by data. Businesses, Social The issue was never resolved, and if anything, it became more complicated as other cryptocurrency platforms began to distance themselves from FTX. Other government entities in Japan, Australia and Hong Kong, among others, are also creditors. The specific filing made clear that FTX's top ten creditors alone have more than $100 million each in unsecured . This number is up from an earlier estimate of $5 billion but is still a significant shortfall. The list also includes countless entries that read Name on File, references to the individual creditors who fought to be redacted from the list. Join millions, easily discover and understand cryptocurrencies, price charts, top crypto exchanges & wallets in one place. All rights reserved. FTX, a now-bankrupt cryptocurrency exchange established in 2019, has shared a complete list of creditors it owes money. It is important to note that a company's inclusion on the list does not necessarily mean it had a trading account with FTX. The specific filing made clear that FTXs top ten creditors alone have more than $100 million each in unsecured claims. Some were heard saying that their interest was either minimal or zero in the operations of FTX. Top 7 legal and compliance jobs in the crypto market, Sequoia Capital, Paradigm among VCs facing tricky FTX investor lawsuit, DOJ seeks to narrow Sam Bankman-Frieds bail terms, use only flip phones, Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees. Pharmacy CVS is listed as one of the exchanges corporate creditors, as well as Netflix and Comcast. Financial advisors for bankrupt cryptocurrency exchange FTX published an extensive list of the company's creditors, excluding the names of 9.7 million customers. The creditors' list includes government agencies from Switzerland, Hong Kong, the U.S., and Japan. FTX is presently attempting to restructure its empire; however, gaining everyones trust will be tough unless crypto ventures band together to support the revisions. The business owes its unsecured creditors more than $3 billion, according to court documents. BTC was last observed trading at $15,990.89, a 3.6% decrease. The company appointed John J Ray as its new chief to oversee its restructuring. In a damning account of FTX's demise last week, its new CEO, John Ray III, said in a filing that many of the FTX group companies "did not have appropriate corporate governance.". Sandali Handagama is a CoinDesk reporter with a focus on crypto regulation and policy. To make matters worse, the former power couple and many other high-profile investors are likely to lose money from FTX's collapse, PYMNTS noted earlier this month, as shareholders in bankrupt companies are last to be repaid, those shares could be worthless. 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 filing indicated that FTX owes money to universities, media companies, airlines, charities, and many others. FTX was unable to meet the withdrawal demands, causing panic on every other crypto platform. Trevor Holman follows crypto industry since 2011. FTX founder and former CEO Sam Bankman-Fried (Nikhilesh De/CoinDesk). Subscribe - We publish new crypto explainer videos every week! FTX TRADING LTD., et al.,1 Debtors. Wednesday's matrix highlights an array of digital asset corporations such . Bankman-Fried has pleaded not guilty to fraud charges levied against him by U.S. regulators in New York. 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. Learn more about Consensus 2024, CoinDesks longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Claim your $600 Welcome Voucher for completing simple tasks on Binance. FTX Debtors Receive Court Approval for Customer Bar Date of September 29, 2023. 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 . earlier in the case that the exchange could have well over 1 million creditors. Index, Data On top of that, the filing also named the federal US Internal Revenue Service (IRS) as one of the entities FTX owes money. All of them were listed as. In this series, Quicktake Originals takes an in-depth look at the domestic and international projects that are shaping modern Africa, and their implications for the global economy. By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy. Receipt of filing fee for Transfer/Assignment of Claim ( 22-11068-JTD) (claims,trclm) ( 26.00). Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.

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