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From Microsoft To Google: Bankrupt Crypto Exchange FTX Owes Money To Every Major Tech Company

The FTX fiasco that rattled the already struggling crypto industry last year still remains largely unresolved. The now bankrupt crypto exchange's former CEO had apologised for the collapse when it happened in November 2021, but has pleaded "not guilty" in court.

And the depth of this fiasco still remains uncertain, with even the Terra Luna crash of 2022 being linked to FTX's former CEO, Sam Bankman Fried.

And that's not all.

FTX Owes Money To Every Major Tech Giant

AFP

Now it's learned that Google, Meta, Amazon, Microsoft, Twitter, and Apple are included in the list of companies the bankrupt crypto exchange FTX owes money to in the aftermath of its catastrophic collapse. A new "creditor matrix," published by FTX’s lawyers to the United States Bankruptcy Court of Delaware this week, runs 115 pages long and contains thousands of names, as per a Forbes report.  

The extensive list shows just how many people, companies, media outlets, governments, and other entities are owed money by FTX —an attempt to map the millions of customers that engaged with the exchange before its founder Sam Bankman-Fried and executives were accused of fraud and deceiving investors.

Netflix, TikTok & LinkedIn Also In The List

It’s unclear how much money is allegedly owed to the tech companies; that information is not provided in the matrix. Other names included Netflix, LinkedIn, and Tiktok. (Lawyers for FTX previously objected to the inclusion of creditor identities, and nearly 10 million names were withheld from the new document.

FTX heavily promoted itself through advertising campaigns, sponsorships, and paid partnerships. As per the report, it’s possible that some or all of these companies are owed ad fees, as the exchange had accounts on Facebook, TikTok, and Twitter, or cloud hosting fees in the case of Amazon.

getty/bbc

Also Read: 5 Crypto Firms That Filed For Bankruptcy Besides FTX

Not Everyone A Creditor In The List?

In a later court filing on January 26, FTX reportedly clarified that the "inclusion of a name on the Creditor Matrix does not necessarily indicate that the party is a creditor."

According to a Netflix spokesperson, Emily Feingold, the company was "not aware of ever having any business relationship with FTX and do not understand why they would have listed us as a creditor."

As per the report, FTX does not appear to have run Facebook ads, according to the platform’s ad library.

Also Read:  Why Goldman Sachs Is On The Hunt To Invest Millions In Crypto

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