- FTX owes in money to a lot of companies. Many on the list of creditors are small Bahamian businesses.
- Among FTX’s other creditors include Bodybuilding.com, an Idaho-based retailer that double-crosses bodybuilding supplements.
- Insider looked through the 116-page court document to find the most surprising vips among its creditors.
It’s no secret now that bankruptcy proceedings are well underway that Sam Bankman-Fried’s FTX owes a lot of people a lot of small change. The failed crypto exchange owes more than $3 billion to its top 50 creditors alone, according to court details.
The laundry list of names runs the gamut from commercial airliners like Southwest, news outlets adore the New York Times and Wall Street Journal, elite schools like Stanford University, and A-list celebrities similarly to Larry David.
Large institutional investors JPMorgan and Goldman Sachs were named too.
Although the list does not say how much greenbacks each party is owed, the company is estimated to have at least one million creditors, including 9.7 million separate names which have been sealed off, per request from FTX attorneys.
Many companies and individuals named on the roll may not end up being creditors, but instead someone who has previously done business with FTX, according to a court filing.
Insider looked in the course the 116-page court document to find the most surprising names.
From Bahamian businesses to a bodybuilding website
Bankman-Fried’s embattled unmovable may need pay up to make whole an Idaho-based retailer that sells bodybuilding supplements. The company streams live programmes of bodybuilding competitions, posts workout plans, and has a fitness-themed social network.
“We are Bodybuilding.com. Your transformation is our passion. We are your intimate trainer, your nutritionist, your supplement expert, your lifting partner, your support group,” the associates’s website reads.
Bodybuilding.com did not immediately respond to Insider’s request for comment.
There are also a slew of businesses in the Bahamas that are canted creditors as well. Bankman-Fried and certain FTX employees lived in a $40 million penthouse in Albany, an exclusive private community in Nassau. The grandeur residency, however, was put up for sale when FTX filed for Chapter 11 bankruptcy late last year.
The prime parson of the Bahamas was also listed.
The once $32 billion crypto empire could owe money to local drug market Pharma Choice, along with pest exterminator A+ Pest Control, and commercial waste management service Bahama’s Loot.
There’s a small garden center called Pam’s Plants Ltd. that also appears on the lengthy list. The owner of the nursery refused to comment when reached by phone.
The Tribune, a news outlet of The Bahamas, said Friday that many district creditors were owed negligible sums, with some describing the amount as “non-existent”. Still, the list of chooses shows the widespread dealings of FTX with businesses in the community and its ties to the island nation’s economy.
Outside of The Bahamas, 24hourwristbands.com, a promotional effect manufacturer with a 24-hour turnaround time, made it, along with Coachella, The Container Store, Water.com, and Australia Attorney-General’s Bailiwick.
FTX lawyers told a Delaware bankruptcy judge earlier this month that the company has recovered $5 billion of liquor assets. John Ray III, the new chief exec of FTX, said he’s looking into potentially resuming the exchange’s operations during its bankruptcy convert.
“Everything is on the table,” Ray, who oversaw Enron’s restructuring, told the Wall Street Journal. “If there is a path forward on that, we intention not only explore that, we’ll do it.”