FTX Creditor List Reveals Big Names Across Multiple Industries With Ties to Embattled Exchange

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As the fallout from the FTX saga continues to unfold, new details about the company and its web of partners are being released almost daily. In the latest round of revelations, some of the now-defunct exchange’s investors have been brought to light. 

Everyone’s Involved Here

In the late hours of Wednesday, lawyers for FTX filed the exchange’s creditor matrix with the United States Bankruptcy Court for the District of Delaware. The document, which spans about 115 pages, listed all of the exchange’s creditors in alphabetical order, with some truly surprising inclusions being part of it. 

In total, the creditor matrix revealed a massive web of investors from across different fields – including transportation, consumer technology, hospitality, and even charity organizations. International government agencies were revealed as well, showing that the FTX saga was wide-ranging. However, the exchange’s everyday customers, which totaled about 9.7 million with funds stuck in the exchange, were redacted. 

Some notable names in the creditor matrix included Coinbase, Galaxy Digital, Circle, Yuga Labs, and several entities of the exchange’s chief rival, Binance. Outside of the crypto space, names such as Amazon, Apple, Netflix, Google, LinkedIn, and Twitter were included as creditors in the failed exchanges. The Wall Street Journal and The New York Times were also listed, as were the tax offices of several state agencies in the United States and the federal Internal Revenue Service (IRS). 

Other government agencies in countries like Hong Kong, Australia, and Japan also found their way to the list.

Of course, it is worth noting that an entity’s inclusion in the list doesn’t mean that they had a trading account with FTX or were directly exposed to crypto in any way. Additionally, the list doesn’t include specific amounts of money that the entities put into FTX or their liabilities at the time of the exchange’s collapse.

“Mornically Inefficient” Spending 

Although it is not uncommon for a company of FTX’s stature to be involved in such a complex web of investors, the revelations definitely point to how deep-pocketed some of these investors were and how well-connected FTX was before its implosion.

The revelation also lent credence to allegations made by Danielle Cloud, a former employee at the exchange who blew the whistle on some of its outlandish expenses. 

Cloud, who worked at FTX’s marketing department from October 2021 until its collapse, took to Twitter in a lengthy thread in mid-December 2022 to highlight some of the company’s wild spending habits. As she alleged, FTX’s headquarters in the Bahamas was especially lavish, with C-suite members owning or renting multimillion-dollar homes on the company’s dime. 

Cloud also claimed that employees were provided “expensed stays in luxury hotels” as well as access to over half a dozen condos that were either rented or bought by the company. FTX’s headquarters had food catered 24/7, with employee perks, including free groceries, biweekly massages, and more. This is in addition to the private chefs hired by executives and much more. 

A report from CNBC also showed that the exchange had spent over $250 million on real estate in the Bahamas. 

And, as the current disclosures show, FTX had massive partnerships with several big names in the luxury and hospitality business. From Airbnb and luxury hotels to Uber Eats and Doordash entities across North America and Australia, FTX was definitely a money pit.  



About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.