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FTX's anonymous creditors
- Lucinda Shen, author of Axios Pro: Fintech Deals
Nov 21, 2022

Illustration: Gabriella Turrisi/Axios
Over the weekend, FTX released a list of its 50 largest unsecured creditors, showing they are owed nearly $3.1 billion.
Why it matters: The document didn't answer the big question of what other companies are standing directly in FTX's blast radius. The list is currently anonymous.
What they're saying: All of the 50 creditors are customers, with FTX's restructuring advisers saying this is a valuable asset in itself.
- "Public dissemination of the Debtors’ customer list could give the Debtors’ competitors an unfair advantage to contact and poach these customers," Edgar Mosley II, managing director of Alvarez & Marsal wrote in a Saturday document, referring to FTX and its multiple entities.
- "I believe it would interfere with the Debtors’ ability to sell their assets and maximize value for their estates at the appropriate time."
Between the lines: FTX's creditors may be happy to keep their names off the public dossier at a time when there is real concern that more crypto dominoes may fall.
- Right now, everything associated with FTX appears to be taking a hit.
What we're watching: A hearing of the first day motions is scheduled for Nov. 22 at 11. a.m.
- We're also watching Perella Weinberg, the bank that was appointed to oversee FTX's strategic review of its global assets.