– Delaware court released a list of institutional investors that credited funds to the failed crypto exchange FTX.
– The list contains 116 pages and includes names such as Mercedes Benz, American Airlines, Bloomberg Finance, Binance, Coinbase Global, and Microsoft.
– Judge John Dorsey allowed the names of FTX individual creditors to remain sealed for another three months.
The FTX and Alameda implosion, which has been deemed as the fastest big corporate failure in American history, affected international government agencies, media corporations, airlines, and manufacturing companies. This situation led to Delaware court releasing a list of institutional investors that credited funds to the failed crypto exchange FTX. The list contains 116 pages and includes names such as Mercedes Benz, American Airlines, Bloomberg Finance, Binance, Coinbase Global, and Microsoft.
Judge John Dorsey, who is overseeing the bankruptcy proceedings, allowed the FTX lawyers to publish the list of institutional investors. However, the list does not include the amount of capital invested. Nonetheless, it can be assumed to cumulatively be in billions of dollars, with the top 50 creditors claiming about $3.1 billion. Further, the Judge allowed the names of FTX individual creditors to remain sealed for another three months, as more hearings take place.
The FTX collapse has instilled a lot of fear in centralized crypto exchanges and also reduced cash inflows in the blockchain industry. FTX’s failure has been complicated by the fact that SBF donated millions of dollars to U.S. political campaigns and hence has been under the spotlight. The U.S. Securities and Exchange Commission (SEC) has also been looking into the matter and has accused SBF of illegal activities.
The situation has led to a lot of speculation and confusion in the crypto industry. Institutional investors, who had put their trust in FTX, are now looking at John J Ray III and SBF to clear the air and provide them with the answers they need. It remains to be seen what the outcome of the case will be, and whether the institutional investors will be able to get back the money they invested in FTX.