It is no secret that bankruptcy proceedings are underway for Sam Bankman-Fried’s FTX. This means that a lot people owe a lot to FTX. According to court documents, the top 50 creditors of the failed crypto exchange are owed more than $3 billion.
There are many names to choose from, including commercial airliners like Southwest and news outlets like Wall Street Journal and New York Times, as well as elite schools like Stanford University and celebrities like Larry David.
Named were also large institutional investors JPMorgan Goldman Sachs and Goldman Sachs.
The list doesn’t indicate how much each party owes the company, but it is estimated that the company has at least one-million creditors. This includes 9.7 millions individual names that have been sealed, upon request by FTX lawyers.
According to a court filing, many companies and individuals on the list might not end up being creditors but rather someone who has done business with FTX in the past.
Insider analyzed the 116 page court document in order to discover the most shocking names.
Bahamian businesses and a website for bodybuilding
Bankman-Fried’s troubled company may have to pay up to buy back an Idaho-based retailer selling bodybuilding supplements. The company broadcasts live bodybuilding competitions and posts workout plans. It also has a fitness-themed social media network.
“We are Bodybuilding.com. Our passion is your transformation. “We are your personal trainer and nutritionist, your supplement expert. We also serve as your lifting partner. This website describes our company.
Insider reached out to Bodybuilding.com for clarification but they did not respond immediately.
A number of other businesses are also listed creditors in the Bahamas. Bankman-Fried, along with certain FTX employees, lived in a penthouse worth $40 million in Albany. This exclusive community is located in Nassau. However, the luxury residence was sold by FTX when it filed for Chapter 11 bankruptcy in late 2013.
List included the prime minister of The Bahamas.
The $32 billion cryptocurrency empire that once spanned the globe could owe money locally to Pharma Choice and pest control service A+ Pest Control.
Pam’s Plants Ltd., a small gardening center, is also on the long list. When reached by telephone, the owner of the nursery refused to comment.
The Tribune, a newspaper from The Bahamas, reported Friday that local creditors owed small sums. Some described the amount as “nonexistent”. The list shows that FTX has had a lot of dealings with local businesses and is tied to the economy of the island nation.
Outside of The Bahamas, 24hourwristbands.com, a promotional product manufacturer with a 24-hour turnaround time, made it, along with Coachella, The Container Store, Water.com, and Australia Attorney-General’s Department.
FTX lawyers informed a Delaware bankruptcy judge that $5 billion worth of liquid assets had been recovered by the company. John Ray III, FTX’s new chief executive, stated that he is looking at resuming operations of the exchange during the bankruptcy process.
Ray, who was responsible for Enron’s restructuring said that “Everything is on a table.”