FTX contagion

A list of companies with an exposure to FTX bankruptcy. Includes acquisitions, FTT holders and any other exposure.

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FTX contagion

A list of companies with an exposure to FTX bankruptcy. Includes acquisitions, FTT holders and any other exposure.

crypto, investigative journalism, finance, 2023, FTX

Company Country (HQ if distributed) Description Exposure Status Source Notes

FTX acquisitions

Liquid Japan exchange acquired April 2021 trading paused November 20, 2022 https://twitter.com/Liquid_Global/status/1594312869411450880

LedgerX USA clearinghouse acquired October 2021 seeking acquisition as of December 2, 2022 https://www.bloomberg.com/news/articles/2022-12-03/ftx-s-ledgerx-is-up-for-sale-as-restructuring-process-picks-up

Ren Protocol protocol acquired February 2021 seeking new funding, sunsetting v1 of their project https://blockworks.co/news/alameda-backed-ren-warns-crypto-could-be-lost-as-platform-shuts-down

Voyager USA broker pending acquisition canceled ~$3M balance locked on FTX seeking acquisition bankruptcy (predates FTX collapse; July 6, 2022) https://www.reuters.com/technology/binance-voyager-crypto-firms-exposure-ftx-is-coming-light-2022-11-14/

Blockfolio USA portfolio tracker purchased majority stake in August 2020 94% of $84M denominated in FTT https://www.bloomberg.com/news/articles/2022-12-22/ftx-paid-for-blockfolio-deal-mostly-in-ftt-token-it-invented

FTT holders

Binance exchange 🔒 FTT priced at $580M based on price pre-FTX collapse https://www.reuters.com/technology/binance-voyager-crypto-firms-exposure-ftx-is-coming-light-2022-11-14/

BitDAO DAO BitDAO holds 3.36M $FTT with agreement not to sell before Nov 2024 Alameda holds 100M $BIT with agreement not to sell before Nov 2024 https://www.coindesk.com/markets/2022/11/08/bitdao-community-asks-alameda-for-proof-of-fund-after-tokens-sudden-20-drop-threatens-to-dump-ftt/

Solana Foundation Switzerland non-profit 🔒 $1M 🔒 3.43M FTT valued at ~$75.5M before FTX collapse 🔒 134.54M SRM valued at ~$107.6M before FTX collapse 3.24M shares of FTX common stock $40M in exposure to Sollet-based assets https://cryptopotato.com/solana-foundation-lost-over-180-million-in-crypto-on-ftx/

Skybridge Capital USA investment firm FTT priced at $10M in Sep 2022 FTX holds 30% stake in Skybridge, acquired in Sep 2022 for $45M https://www.ft.com/content/08370364-40af-4a1c-a85e-a9243be173c8

Multicoin Capital USA venture capital 🔒 10% of assets positions in FTT, SOL, and SRM https://www.coindesk.com/business/2022/11/09/who-still-has-exposure-to-ftx/ https://www.coindesk.com/business/2023/03/04/multicoin-capitals-hedge-fund-lost-914-last-year-investor-letter-reveals

Other FTX exposure

Celsius USA lending 🔒 3.5M $SRM (~$2.625M based on price pre-FTX collapse) $13M in loans to Alameda Research bankruptcy (predates FTX collapse; July 13, 2022) https://www.reuters.com/technology/binance-voyager-crypto-firms-exposure-ftx-is-coming-light-2022-11-14/

BlockFi USA lending $680M in loans to Alameda Research 🔒 $355M $400M line of credit from FTX no longer available withdrawals halted November 10, 2022 bankruptcy filed November 28, 2022 https://www.wsj.com/articles/blockfi-prepares-for-potential-bankruptcy-as-crypto-contagion-spreads-11668534824 https://cointelegraph.com/news/bankruptcy-court-told-ftx-and-alameda-owe-blockfi-1b-but-it-s-complicated

Galois Capital USA hedge fund 🔒 ~$40M (50% of assets) shutting down on February 20, 2022 https://www.coindesk.com/business/2023/02/20/crypto-hedge-fund-galois-shuts-down-after-losing-40-million-to-ftx-ft/

Digital Surge Australia exchange 🔒 $33M (60% of their digital assets) withdrawals halted November 15, 2022 entered voluntary administration December 9, 2022 https://www.afr.com/technology/treasury-pledges-crypto-regulation-next-year-after-ftx-collapse-20221116-p5bytc https://www.theguardian.com/australia-news/2022/dec/23/collapsed-australian-crypto-exchange-digital-surge-owed-33m-by-ftx

DigiCo owed $1.05M secured loan from Digital Surge https://www.theguardian.com/australia-news/2022/dec/23/collapsed-australian-crypto-exchange-digital-surge-owed-33m-by-ftx

Auros Global trading firm 🔒 $20M bankruptcy protection filed December 20, 2022 https://www.theblock.co/post/196418/auros-bankruptcy-filing-ftx

Hodlnaut Singapore lending 🔒 $13M creditor protection (predates FTX collapse; August 16, 2022) https://www.coindesk.com/business/2022/11/10/troubled-crypto-lender-hodlnaut-had-18m-on-ftx-before-withdrawal-freeze/

Vauld Singapore exchange 🔒 $10M creditor protection (predates FTX collapse; July 8, 2022) https://www.theblock.co/post/188021/troubled-crypto-lender-vauld-has-10-million-stuck-on-ftx-source

Orthogonal Trading USA trading firm ? insolvent owes $36M in loans to M11 Credit via Maple Finance https://www.theblock.co/post/192097/maple-finance-default-orthogonal-trading

M11 Credit Netherlands lender $10.5M missed loan payments from Auros Global (via Maple Finance) $36M in loans to insolvent Orthogonal Trading (via Maple Finance) https://www.coindesk.com/markets/2022/12/05/maple-finance-severs-ties-with-orthogonal-trading-alleging-it-misrepresented-financial-position/

Nexus Mutual UK defi insurance $3 million loss due to exposure to Orthogonal Credit's loan from M11 Credit via Maple Finance https://www.theblock.co/post/192230/nexus-mutual-moves-to-divest-expects-3-million-loss-with-maple-finance

Sherlock contract auditor $4 million loss due to exposure to Orthogonal Credit's loan from M11 Credit via Maple Finance https://mirror.xyz/0xE400820f3D60d77a3EC8018d44366ed0d334f93C/1oCUnnQsVfIFX9okOa4ritG-ENuL2W55nTPTJ12cdL0

DCG USA venture capital $575M due to Genesis in May 2023 $1.1B promissory note due to Genesis in June 2032 $296.3M owed to Bitvavo https://www.wsj.com/articles/digital-currency-group-says-revenue-will-fall-this-year-11669146285 $1.1B note came from DCG assuming liabilities from Genesis after Three Arrows Capital collapse

Genesis Global Capital USA institutional trading $226.2M unsecured claim (derivatives branch) unknown additional exposure DCG subsidiary lending branch halted withdrawals November 16, 2022 20% layoffs reported on August 17, 2022 (predates FTX collapse) 30% layoffs reported on January 5, 2023 bankrutptcy filed January 19, 2023 https://www.reuters.com/technology/binance-voyager-crypto-firms-exposure-ftx-is-coming-light-2022-11-14/ https://www.courtlistener.com/docket/65748821/540/ftx-trading-ltd/

HQ Digital wealth management DCG subsidiary winding down on January 31, 2023 https://decrypt.co/118533/dcg-hq-shut-down-genesis-layoffs

Grayscale Investments USA asset management DCG subsidiary

CoinDesk USA media outlet DCG subsidiary

Foundry USA Bitcoin mining DCG subsidiary

Luno UK exchange DCG subsidiary 35% layoffs on January 26, 2023 https://www.cnbc.com/2023/01/25/dcg-owned-crypto-exchange-luno-axes-35percent-of-staff.html

Bitvavo Netherlands exchange 🔒 $296.3M with DCG https://cointelegraph.com/news/bitvavo-to-prefund-locked-dcg-assets-worth-296-7m-amid-liquidity-crisis

Gemini USA platform 🔒 $900M customer funds on Genesis withdrawals halted from Earn product on November 16, 2022 Earn product canceled on January 10, 2023 https://www.ft.com/content/32977a99-c1c3-4f34-9ecc-4057217bf974

? $462.2M loans/collateral with Genesis https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf Redacted in Genesis bankruptcy filing

? $446.9M loan to Genesis, partially secured https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf Redacted in Genesis bankruptcy filing

? $230M loan to Genesis https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf Redacted in Genesis bankruptcy filing

Mirana Singapore asset management $151.6M loans to Genesis https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf

Bybit UAE exchange ? exposure to Mirana, who handles their investment arm 30% layoffs on December 4, 2022 https://twitter.com/benbybit/status/1616313439617486850

? $114.5M loan to Genesis https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf Redacted in Genesis bankruptcy filing

Babel Finance Hong Kong lender $150M loans to Genesis withdrawals halted (predates FTX collapse and Genesis withdrawal halt/bankruptcy; June 17, 2022) restructuring (predates FTX collapse and Genesis withdrawal halt/bankruptcy; July 2022) https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf Listed as Moonalpha Financial Services Limited in Genesis bankruptcy filing

Coin Cloud USA crypto ATM operator

Coincident Capital Cayman Islands hedge fund $112.3M loans/collateral with Genesis https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf

Donut USA defi $78M loans lending partnership with Genesis withdrawals halted November 16, 2022 https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf

Altcoinomy Switzerland KYC/AML operator $61.8M loans to Genesis https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf

GOPAX South Korea exchange $56.8M loans to Genesis (via parent entity, Streami) counterparty to Genesis withdrawals halted November 17, 2022 https://twitter.com/CoinhouseHQ/status/1593198640914632704 https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf Parent company is Streami

Heliva International Panama S.A. $55M loans to Genesis https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf Contact person listed in bankruptcy filing is Santiago Esponda, CFO of Decentraland. His @decentraland.org email is listed.

Winah Securities Panama S.A. $26.9M loans to Genesis https://storage.courtlistener.com/recap/gov.uscourts.nysb.314890/gov.uscourts.nysb.314890.1.0.pdf Contact person listed in bankruptcy filing is Santiago Esponda, co-founder of Decentraland.

VanEck USA investment firm $53.1M loans to Genesis https://storage.courtlistener.com/recap/gov.us

FTX contagion
Info
Tags Crypto, Investigative journalism, Finance, 2023, FTX
Type Google Sheet
Published 12/09/2023, 03:16:35

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