The list of creditors has been compiled by financial advisors who have been hired to map all of FTX’s creditors. After the collapse of FTX, the company structure turned out to be a complete mess, with the financial overview almost completely missing.
Since then, specialists have been trying to unravel who exactly FTX’s customers are. And important: how much money or crypto coins they still owe from the crypto marketplace. The document made public on Wednesday shows just how widespread FTX’s connections were worldwide. No less than 9.6 million customer names are mentioned.
This includes well-known tech companies, such as Apple, Google, Microsoft, Meta, and major banks such as Deutsche Bank, HSBC, Wells Fargo, JPMorgan Chase and RBC. Just like the well-known American newspapers New York Times and Wall Street Journal. And of course major crypto players such as Coinbase and Binance are also included.
But the list also includes twelve Dutch companies and entrepreneurs. The best known are ABN Amro Clearing Chicago, a subsidiary of the Dutch bank that processes financial transactions, high-speed trader Flow Traders and the Rotterdam law and consultancy firm Loyens & Loeff.
Flow Traders has the name of chief financial officer Mike Kuehnel on the name. “Flow Traders is a creditor of FTX as per the filing you reference, but Mike is not a personal creditor of FTX,” a spokesperson said. She further refers to an earlier statement in which Flow Traders writes that its exposure to FTX is ‘insignificant’.
“ABN Amro Clearing USA has never performed customer clearing activities for FTX in Bermuda,” said a spokesman for the Dutch bank. “ABN Amro Clearing has therefore never invested in FTX, nor had any relationship with FTX. We are therefore currently investigating why the company is on the list.”
Lesser known names
But lesser-known names are also on the list. Such as fashion designer Stichd from Den Bosch, the Amsterdam law firm Blenheim and Vosbor, an Amsterdam company active in the trade of agricultural commodities, crypto trading platform Cryptohopper and Crypto Insiders, a website with crypto news and information.
Inquiries show that these companies have not made any investments in FTX. Several entrepreneurs are surprised that they have ended up on the list of creditors. “Very well,” says Pieter Ridder of artist agency We Are E. “One of our artists played at a company event in Paris and that was simply paid for by FTX. We have no outstanding amounts. And no investments with or via FTX. “
The Hilversum entrepreneur Alexandra van den Berg of Lexidus, who advises companies on tenders, also does not understand why she is on the list. “Because I have no connection or connection with FTX and never invested. So I have no idea how I ended up on this list. That is still worth investigating. But no damage or losses here.”
The founders of Crypto Insiders, on the other hand, have deposited money with FTX. “This concerns our own credits that we had with FTX. We consider those credits, at least partly, as lost.” They say it is a five-figure sum.
Creditors want secrecy
Not everyone is waiting for the US disclosure on the bankruptcy. A group of duped investors in FTX asked the judge at the end of December to keep their names secret. Revealing their identity could expose them to identity theft and other scams.
Meanwhile, the case continues to drag on. Sam Bankman-Fried, founder of FTX and the deeply involved company Alameda, is accused of large-scale fraud and money laundering. He pleaded not guilty earlier this year.
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