FTX representatives prepared a “creditor matrix,” a 115-page document with details of entities owned by Sam Bankman-Fried’s company.
FTX attorneys provided a document to the District Court for the District of Delaware that contains details of all the companies to which the cryptocurrency exchange owes money. The 115-page document includes information on about 70,000 businesses. The exchange is also in debt to about 9.7 million of its users. Still, their personal data must remain confidential for at least three months after the latest bankruptcy ruling, according to Judge John Dorsey.
What Is a Creditor Matrix?
A creditor matrix is a court filing used in bankruptcy proceedings that lists entities potentially owed money by a debtor. The document helps identify parties that may be affected by the restructuring process and ensures creditors receive legal notices during bankruptcy proceedings.
The list of creditors of FTX Trading Ltd. includes banks, venture capital funds, crypto companies, media publications, charities, airlines, hotels, and even government agencies. Among the well-known companies in the Web3 sector are giants such as Coinbase, Binance, Yuga Labs, Circle, Bittrex, Chainalysis, Messari, and many others, including Galaxy Digital, which also began bankruptcy proceedings.
Types of Organizations Listed as FTX Creditors
The creditor matrix revealed how broadly FTX’s business operations extended across both the crypto industry and traditional sectors:
- Cryptocurrency exchanges and blockchain companies
- Venture capital firms and investment funds
- Technology companies and cloud providers
- Media organizations
- Government agencies and tax authorities
- Airlines, hotels, and service providers
Sam Bankman-Fried’s company owes debts to major tech corporations such as Apple, Microsoft, Google, and Amazon, the social networks LinkedIn and Twitter, and the streaming service Netflix. FTX has debts to CoinDesk, The New York Times, and The Wall Street Journal, among the mentioned media publications.
FTX creditors include tax authorities of several U.S. states and the Internal Revenue Service (IRS), plus a number of government agencies in Japan, Australia, and Hong Kong.
According to the document, FTX has been operating on debt in many areas, from public relations to pest control. The paper presented doesn’t specify the amount of debt owed to each specific company. Moreover, being on the “creditor matrix” doesn’t mean the company had a trading account on FTX.
FTX Remains One of Crypto’s Largest Bankruptcies
The collapse of FTX is widely regarded as one of the most significant failures in cryptocurrency history. The bankruptcy affected millions of customers, triggered investigations across multiple jurisdictions, and became a turning point for the regulation of digital asset markets. The case continues to influence discussions around transparency, governance, and customer asset protection throughout the crypto industry.
In mid-December 2022, FTX Founder Sam Bankman-Fried was arrested and extradited to the United States. At the hearing, he pleaded not guilty to any of the charges. However, ex-executives of FTX Group Caroline Ellison and Gary Wang pleaded guilty and cooperated with the investigation.
FAQ
Court filings identified roughly 70,000 businesses and organizations, while the number of affected users reached millions.
Yes. The bankruptcy estate has begun distributing funds to creditors under the court-approved reorganization plan. The repayment process continues through multiple distribution rounds as assets are recovered and claims are processed.
FTX founder Sam Bankman-Fried was convicted on multiple fraud-related charges connected to the collapse of the exchange. His case became one of the most high-profile prosecutions in the history of the crypto industry.
The collapse of FTX reshaped discussions around crypto regulation, exchange transparency, and customer asset protection. Many regulators introduced stricter oversight measures following the bankruptcy.
The bankruptcy accelerated industry-wide efforts to improve proof-of-reserves reporting, custody practices, corporate governance standards, and risk management procedures across digital asset service providers.
