FTX Says Wall Street Heavyweights Are Among Its Creditors

  • In Business
  • 2023-01-26 18:32:49Z
  • By Bloomberg

(Bloomberg) -- Advisers to FTX say the collapsed crypto company owes a dizzying assortment of firms including Goldman Sachs Group Inc., JPMorgan Chase & Co. and Wells Fargo & Co., bankruptcy court documents show.

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A 116-page document filed on Wednesday detailing FTX's creditors contains thousands of entries, and names of individuals are redacted. But the globe-spanning list identifies heavyweights across Wall Street as having some kind of connection with Sam Bankman-Fried's once-giant exchange.

The disclosure doesn't reveal the nature or size of the debts, if any, and inclusion on the list doesn't mean a firm is highly exposed to FTX.

Deutsche Bank AG, HSBC Bank and MUFG Bank are also on the list.

"Goldman Sachs has not filed a claim against the debtors," a spokesperson for the bank said. "This type of creditor matrix is prepared by the debtors for the purpose of providing notice to interested parties in a bankruptcy proceeding and is not necessarily evidence of a creditor relationship."

A representative for Deutsche Bank said the firm had no credit exposure to FTX. Representatives for JPMorgan, Wells Fargo and MUFG declined to comment. HSBC didn't have immediate comment.

Prior to its filing for bankruptcy in November last year, FTX was one of the largest crypto exchanges in the world. Once valued at $32 billion, the exchange and Bankman-Fried were known for their willingness to spend lavishly on advertising deals, business partnerships and political donations.

Other than the banks, named creditors include US governmental departments, both national and international securities regulators, other large crypto firms, media outlets, big tech companies and a global array of law firms and accountants.

--With assistance from Anna Irrera.

(Updates with company comments in fifth paragraph.)

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