FTX released a 115-page document listing all its creditors. · These include well-known FTX partners such as Kevin O’Leary and Anthony Scaramucci.
The public is learning more and more about FTX’s influence in the crypto industry and elsewhere as its bankruptcy process progresses.
The insolvent cryptocurrency exchange published a 115-page document on Wednesday naming its biggest creditors. The identities of the almost 9.7 million FTX clients who lost money in the transaction are not included on the list, though.
Creditors of FTX include well-known organisations such crypto businesses, governments, nations, media outlets, venture capital firms, charities, and more.
The Connection between FTX and High-Profile Investors
The 115-page report also lists organisations connected to well-known cryptocurrency investors. In particular, Michael Novogratz’s Galaxy Digital is owed money by FTX. Sam Bankman-Fried, the former CEO of FTX, was harshly criticised by Novogratz and labelled as insane.
Additionally, some entities have connections to FTX partners and influential investors. Among them are financiers who closely aided Sam Bankman-Fried in his attempts to influence and persuade regulators.
The list also includes Kevin O’Leary, a former paid spokesperson for FTX. O’Leary Productions Inc. and Kevin O’Leary Productions are listed as creditors in the FTX petition. O’Leary has much more sympathy for Sam Bankman-Fried, his former business partner (SBF). He also made the suggestion that he would continue to invest in SBF’s future endeavours weeks after the FTX crash.
The Salt Fund and Anthony Scaramucci’s SkyBridge Capital are two further well-known debtors. After forming a joint venture with Scaramucci in 2021, FTX now controls 30% of SkyBridge. FTX and Scaramucci’s SALT forum collaborated to plan the Crypto Bahamas conference in 2022.
Scaramucci, in contrast to O’Leary, believed that SBF’s failure was a personal betrayal. SBF, he added, is the Bernie Madoff of cryptocurrency.
Big Tech, Media and Venture Capital
The list also includes other well-known organisations, demonstrating the depth of FTX’s connections to the sector. On the list are prominent cryptocurrency firms including Circle, Coinbase, and Binance Capital Management, as well as the cryptocurrency exchange Binance.
Along with auditor Messari and blockchain analytics company Chainalysis, the list also includes NFT behemoth Yuga Labs.
Big Tech companies including Apple, Netflix, Amazon, Meta, Google, LinkedIn, Microsoft, and Twitter are on the list. Additionally present are media organisations like CoinDesk, The Wall Street Journal, and The New York Times.
The amount that FTX owed to any business was not disclosed in the filings. All of the organisations on the list were only doing business with FTX; none of them had accounts with the corporation.
The Other Side of the Coin
Smaller creditors, which may number as many as ten million, are not included in the list.
The amount FTX owed to its biggest creditors was not disclosed in the petition.
Why It’s Important
Sam Bankman-Fried was quite influential prior to FTX’s bankruptcy, according to documents from the FTX bankruptcy.
