FTX Collapse Ensnares Creditors Big and Small All Over the World
- Biggest customers undisclosed, but smaller claims trickle in
- Bahamas-based exchange filed for Chapter 11 on Nov. 11
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From a German bank seeking a more than $2 million payment to a Chinese investor requesting $21,000 of lost savings. Claimants around the world who were caught up in the epic collapse of FTX Group are beginning to appear in court filings.
And unlike the very largest creditors, the claimants’ names haven’t been redacted, according to documents released recently in Delaware. They provide an insight into the sprawling nature of Sam Bankman-Fried’s crypto empire -- and the daunting task faced by insolvency practitioners in figuring out who is owed what. The case involves more than a 1 million creditors and may take years to wrap up.