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

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


Seeking Alpha
2023-01-26 16:08:57

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.


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