Southwest Airlines One Of The Many Companies Owed Money By FTX

Crypto Exchange FTX Grapples With 'Liquidity Crunch' As Binance Deal Fades

Photo: Getty Images

Unsealed court documents are shedding some light on who is owed money by the bankrupt cryptocurrency exchange FTX. According to CNNnumerous high-profile companies across multiple industries invested in FTX and are owed billions of dollars.

Southwest Airlines, which just reported a net loss of $220 million in the fourth quarter, is one of four airlines owed money by FTX. The other airlines are American, Spirit, and United.

The list of creditors also includes Goldman Sachs, JPMorgan, Netflix, Apple, and Meta.

Some of the companies are owed money for advertisements that FTX bought, while others, like Amazon Web Services, are owed money for services they provided the failed cryptocurrency exchange.

The documents did not say how much the creditors were owed.

In addition to the large companies, FTX is believed to have millions of individual creditors who invested their money in the cryptocurrency exchange that are owed billions of dollars. The top 50 creditors are owed an estimated $3 billion.

FTX founder and former CEO Sam Bankman-Fried has been charged by federal prosecutors with stealing customers' funds to cover the losses at his hedge fund, Alameda Research. He is also accused of using the money to make luxury purchases and political donations.

He has pleaded not guilty and is expected to go on trial in October. Two of his former business partners have pleaded guilty to fraud charges and are cooperating with prosecutors.

Sponsored Content

Sponsored Content