The ongoing Chapter 11 bankruptcy of FTX is still trying to claw back the 1000000000 of dollar involve to make customers and investors whole . One problem with this lofty goal is the nearly10 million FTX customerswho still had funds on the exchange before its flop are patently being lumped in with FTX employees ’ honest-to-god tiffin bills .
Thecreditor listhas been under court seal for three months , but Delaware dominion Judge John Dorsey lastly told the FTX lawyers to lodge it on Wednesday . Previous bankruptcy docshave speculated there could be 1 million creditor among more than 100 different companies . The list does n’t make the lot surrounding the give out crypto exchange any less puzzling . It may even point to just how messy the FTX books were before the party lastly imploded last November .
The company has been going through a lengthy and Byzantine bankruptcy since November , after investigation reveal interchange CEO Sam Bankman - Fried was funneling customer ’s crypto over to his hedge stock Alameda Research . Bankman - Fried iscurrently awaiting trialover criminal allegation of fraud and confederacy , and FTX has barely managed tomake up $ 5.5 billion in assetsfrom a company that was once valued at $ 32 billion at its bloom .
The FTX creditor list also named the Miami-based Basketball Properties LTD as a creditor. FTX bought the rights to the home of the Miami Heat’s home arena for $135 million in 2021. The Miami-Dade County government has since terminated that 19-year contract.Photo: Joe Raedle (Getty Images)
The creditor inclination does n’t give an indication as to how much each entity is owe , but the 116 - pageboy text file includes an immense list of names , though a good routine of those listed on the text file were redacted . Some of those lean are rather strange to see on a leaning of hoi polloi owed . There ’s the name of get it on FTX investors likeTom Brady and his ex - wife , fashion model Gisele Bündchen , though the latter was listed under the Gisele Bündchen Charitable Giving , her Polymonium caeruleum van-bruntiae foundation .
Among the name calling are a few other famed entities , including Modulo Capital , a small crypto trading business firm . That company has receivedintense scrutinyfrom Union prosecutors for the 100 of billion of dollar mark Bankman - Fried gave it over the years , concord to anonymous source quoted by The New York Times . The fresh leaders of FTX are trying to drag those million back from Modulo as part of its attack to make creditors whole .
And then there ’s the head scratching entities that FTX is listing as a creditor . Netflix is lean as one of the entities alongside The Wall Street Journal . There ’s the names of the Alabama Department of Revenue listed several times alongside several other state way . Major tech companies like Meta , Microsoft , and Apple are also listed alongside the gens of individual Apple IT faculty .
Some of those entity on the lean could only be expenditures which have become inexplicably wrapped up in the company ’s creditor list . DoorDash and UberEats are together listed over a dozen times all over the world , in places like San Francisco , Toronto , Canada , and Melbourne , Australia . Airbnb is listed alongside several opulence hotels in places like Austin , Chicago , as well as Nassau in the Bahamas where FTX was based .
As pointed out byCoinTelegraph , former FTX employees have openly talked about the farcical amount of money staff spent on luxury base , apartments , private chef , massage , and more .
11 . The half dozen condos leased / buy by FTX for free employee access … In addition to the expensed stays in luxury hotels.pic.twitter.com/RqCVfjm7eX
— Dani Cloud ( @daniiicloud)December 14 , 2022
So it ’s unclear if FTX simply has n’t compensate its Netflix bill , if the exchange had any marketing hand with these other party , or if Bankman - Fried ’s dearie just list out employee ’ expenditures because the company observe such bad books . John Ray III , the mortal in charge of care FTX through its failure , has articulate hehas no confidencein FTX ’s balance sheets .
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