Cryptocurrencies: 28639
Markets: 116149
Market Cap: $2,372,636,177,373     
24h Vol: $62,331,000,235
Seeking Alpha 2023-01-26 16:08:57

Apple, Netflix, Coinbase among creditors owed money by crypto exchange FTX

Beleaguered cryptocurrency exchange FTX ( FTT-USD ) owes money to a barrage of high-profile companies, including technology behemoths Apple ( NASDAQ: AAPL ) and Netflix ( NASDAQ: NFLX ) and crypto heavyweights Coinbase Global ( NASDAQ: COIN ) and Binance, according to a recent court filing as part of the bankruptcy proceedings. The 116-page document, which does not reveal the amount each institutional creditor is owed, underscores the widespread financial contagion from FTX's demise. A Delaware judge on Jan. 11 allowed the platform to keep its customer names undisclosed for at least another three months. Financials firms that were listed included crypto-focused bank Silvergate ( NYSE: SI ), U.S. megabanks Citigroup ( NYSE: C ), Wells Fargo ( NYSE: WFC ), and asset management giant BlackRock ( NYSE: BLK ). Recall late last year when BlackRock CEO Larry Fink said the firm had invested $24M in FTX before the once-dominant exchange imploded following a liquidity crunch. Airlines included in the creditor matrix featured American Airlines Group ( NASDAQ: AAL ), Spirit Airlines ( NYSE: SAVE ) and Southwest Airlines ( NYSE: LUV ). Other companies mentioned were WeWork ( NYSE: WE ), CVS ( NYSE: CVS ), the Wall Street Journal and Comcast ( NASDAQ: CMCSA ). Note the list only revealed information involving companies, not customers, 9.7M of which were redacted. At the start of January, Sam Bankman-Fried, the disgraced FTX co-founder and former CEO accused of defrauding investors and customers, pleaded not guilty to criminal charges brought against him by regulators.
esptco-banner img

Videos
  • Ethereum Explained: What is Ethereum & How Does it Work? Simply Explained!

  • Bitcoin Halving Explained: Why It Is So Important?

  • Brave Browser Review 2022: Why Brave Browser is Good for Crypto?

  • The Metaverse to Replace the Real World!

Our Partners