The FTX crypto platform, which went bankrupt in November 2022, owes a lot of people money. A new document shows the extent of the platform’s debts: it counts among its creditors some of the most important tech companies.
The list is 116 pages long, the names written in very small, almost illegible. The document, which brings together all the companies that FTX owes money to, was made public on January 25, 2023, and shows the extent of the crypto exchange’s losses.
In all, FTX owes money to a million creditors. An impressive figure, at the height of the bankruptcy of the company in November 2022, which took with it part of the cryptocurrency sector. But more than the number of creditors, which was already known, it is the names of the latter that the new document reveals. The long list shows that many tech companies are involved, and that FTX also owes money to French banks.
What does the list contain?
Until November, FTX was one of the most respected companies in the cryptocurrency industry and was the second largest digital currency exchange in the world, just behind Binance. But after the publication of an article casting doubt on the management of the company’s funds, the setbacks followed one another and forced the company, in barely a week, to close down.
Since then, a lawsuit has been filed against the former executives of FTX and the company’s accounts have been scrutinized, in order to regain as much liquidity as possible and to reimburse the many companies to which FTX owes money. In all, the platform would be indebted to the tune of 8 billion dollars.
The list of creditors is therefore very, very long. But it is also revealing of the links that FTX had woven all around the world, and in particular of its proximity to tech companies. Apple, Netflix, Amazon, Meta, Google, LinkedIn, Microsoft and Twitter are among the creditors, along with The New York Times and The Wall Street Journal. According to CoinTelegraph, we even find in the list the specialized media CoinDesk, the same one that published the article that led to the fall of FTX.
The world of cryptocurrencies is, of course, not spared. We already knew that the bankruptcy of FTX had led to that of Genesis, but we discover with this list of new names of creditors. The Coinbase exchange platform appears, as do Yuga Labs, the founders of the NFTs Bored Ape Yacht Club, Chainalysis, and even subsidiaries of Binance, the big rival platform of FTX.
French companies are also part of this list, as spotted by BFMTV, whose banks ” BNP Paribas, Crédit Agricole (only the American subsidiary in New York is mentioned), Société Générale or Groupe BPCE, which is the central body common to the Banque Populaire and the Caisse d’Épargne Française “.
If we can understand with this list the impact that the bankruptcy of FTX has on the world, however, it misses crucial information: we do not know how much FTX owes each creditor. Impossible for the moment to say how much Netflix and Meta are affected – and perhaps we will never know.
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