The largest unsecured claim in the FTX bankruptcy case stands at $36.2 million and none of the top 50 creditors are considered “insider information.”
The total amount allegedly owed to the top 50 creditors is approximately $114 million.
Given the billions of dollars in client funds reportedly traded between FTX and Alameda, it’s unclear why the list of creditors is so low by comparison. FTX reportedly had over 5 million users at its peak, so the top 50 creditors make up only part of the story.
Number 50 on the list has an unsecured claim of $220,050; And if there are billions of dollars to be accounted for within the bankruptcy investigation, which is the case, then most of the victims are like retail customers who didn’t have whale balances.
FTX Trading Ltd. and its affiliated companies filed consolidated lists of its top 50 creditors of various debtor companies with the United States Bankruptcy Court for the District of Delaware.
These “Top 50 Lists” include West Realm Shires Inc., Alameda Research LLC, Clifton Bay Investments LLC, and FTX Trading Ltd. The lists are based on currently available creditor information, including information from clients to whom Debtors currently do not have full access.
Debtors are working to gain full access to customer data and continue to investigate amounts on the Top 50 Lists.
The names, addresses, and email addresses of Debtors’ customers have been removed from the Top 50 Lists due to an Interim Order granting Debtors the ability to do so on an interim basis.
Exhibit A, West Realm Shires Inc.’s 50 Largest Unsecured Claims, ranges from $220,050 to $36.18 million. Schedule B, Alameda’s Top 50 Business Claims Payable, includes Bloomberg Finance LP and Amazon Web Services (AWS) with unsecured claims of $80,256 and $4.66 million, respectively. Exhibit C, the Clifton Bay Investments LLC Top 50 list, is empty. Schedule D, FTX Trading Ltd. Top 50 Unsecured Claims, ranges from $19.85 million to $226.28 million.
Copies of the notice of filing of the Top 50 Lists may be obtained on the Court’s website or on the Debtors’ server and claims agent website.
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This post FTX’s top 50 creditors alone account for $114 million in unsecured claims of lost billions
was published first on https://cryptoslate.com/top-50-ftx-creditors-only-account-for-114m-of-unsecured-claims-out-of-billions-lost/