How many prominent institutions are known to have stakes in FTX, where the list of creditors is consolidated?
Among all known impacts, Paradigm, Sequoia Capital, and Sequoia Capital have all lost over $200 million in equity investments, while Celsius, as a bankrupt platform, still has exposed positions on FTX that have not been recovered. The data in the article will continue to be updated.
| Institution Type | Institution Name | Amount Affected | Remarks |
Table of Contents
Hedge Funds, Venture Capital Institutions
Paradigm: $290 million
Paradigm has not made an official announcement regarding this, but sources cited by The Block indicate that Paradigm has marked down the equity value of FTX to zero.
Sequoia Capital: $213.5 million
Sequoia Capital announced on Twitter that they have devalued the equity value of FTX and FTX.US to zero, emphasizing that the losses have been offset by unrealized gains from another fund, and the fund's operations remain unaffected.
Pantera Capital: Possibly over $100 million
According to a public letter by partner Paul Veradittakit, Pantera's losses primarily stem from their equity investment in Blockfolio.
Portfolio Director Franklin Bi's tweet indicates that the equity value accounts for approximately 2% of the total assets.
Documents show that Pantera manages $5.8 billion in assets, suggesting losses could exceed $100 million.
Softbank: Possibly close to $100 million
According to Bloomberg, sources familiar with the matter state that Softbank is expected to write down nearly $100 million of its FTX stake in December.
Galaxy Digital: $76.8 million
According to their third-quarter financial report, Galaxy Digital incurred losses of approximately $68.1 million, not including the $76.8 million left in FTX.
Of the $76.8 million, $47.5 million is currently in the process of being "withdrawn," with CEO Michael Novogratz believing that this money is unrecoverable.
Galois Capital: $40 million
Hedge fund Galois Capital's co-founder Kevin Zhou revealed to CoinDesk on 11/12 that this represents roughly half of their assets. They also mentioned in a letter to investors:
We may need several years to recover a certain percentage of the funds.
Note: The Financial Times reported the amount as $100 million.
Tiger Global: Approximately $38 million equity
According to sources cited by external media, Tiger Global has devalued this investment to zero.
Prior to this, Tiger Global participated in multiple rounds of financing, starting with the Series A financing in 2019.
CoinShares: Approximately $30 million
CoinShares stated on Twitter that they hold $30 million in FTX, which accounts for about 11% of their total assets.
Multicoin Capital: Over $25 million
Sources cited by The Block state that Multicoin's fund invested $25 million in FTX.US, accounting for about 5.8% of the fund.
CNBC also reported that Multicoin's assets in FTX represent about 15.6% of the fund.
SkyBridge: $10 million, 30% equity
In an interview with the media, SkyBridge founder Anthony Scaramucci revealed that SBF previously injected $45 million into SkyBridge, but also required him to purchase $10 million worth of FTT.
He aims to regain a 30% equity stake in FTX during the bankruptcy process, but acknowledges that the process will be lengthy.
Sino Global Capital: Millions of dollars
According to Twitter, China-based Sino has millions of dollars stored in FTX.
GSR: Limited exposure
GSR CEO Jakob Palmstierna stated on Twitter that they will bear the losses incurred by users due to FTX, with GSR's exposure to FTX representing only a single-digit percentage of the company's cash reserves.
Ikigai Asset Management
Without disclosing the amount of losses, founder Travis Kling stated on Twitter that they are "almost all in on FTX."
Jump Crypto
Jump Crypto similarly did not disclose the actual amount of losses, but repeatedly emphasized sufficient liquidity.
Coinbase Ventures
Emphasizing holding equity, not FTT tokens, and that operations are unaffected.
Other Major Equity Financing in the Industry
In a report on FTX's valuation of $18 billion and $900 million in financing last year, the institutions not mentioned above also participated in equity financing:
- Ribbit Capital
- Third Point
- Lightspeed Venture Partners
- Paul Tudor Jones family
- VanEck
- Circle
- Hedge fund billionaires Izzy Englander, Alan Howard
Lending Platforms
BlockFi: Potential Bankruptcy
BlockFi previously acknowledged significant risk exposure to FTX and its related entities, and will continue to suspend withdrawals.
According to sources cited by The Wall Street Journal, BlockFi may be preparing to file for Chapter 11 bankruptcy protection.
Celsius: $13.9 million
In a grim turn of events, Celsius, which filed for Chapter 11 bankruptcy protection on 7/13, stated in a tweet on 11/12 that there are still 3.5 million SRM tokens worth about $900,000 left in FTX, and another $13 million severely under-collateralized in FTT collateralized by Alameda, yet to be returned.
Vauld: $10 million
Reports indicate that Vauld suspended withdrawals in July and may hold a meeting this Saturday with its creditors' committee and potential acquirer Nexo.
Genesis
The impact of FTX on Genesis has led to the announcement of suspended withdrawals, but the scale of losses remains undisclosed.
Ryan Selkis, founder of Messari, claims that Genesis' parent company DCG is urgently seeking a $1 billion credit line.
Yield Platforms
STEAKER: $10.67 million
Taiwanese crypto wealth management platform Steaker disclosed the exposure position on FTX on 11/13, approximately $10.67 million worth of tokens.
Matrixport: Three Products Affected
According to a report by The Block, Matrixport notified users via email that a total of 79 users were affected, without specifying the amount of funds, including three bitcoin-based fixed income products affected.
Exchanges
Binance: Holds 5% FTT in Circulation
Sources cited by Decrypt state that Binance initially invested in FTX to acquire equity, then FTX bought out its equity with platform tokens, resulting in Binance's total holding of FTT reaching 5%.
Kraken: Holds approximately 9,000 FTT
Kraken announced that they remain unaffected by the events.
Crypto.com: Less than $10 million
CEO Kris Marszalek responded on Twitter, stating that due to the liquidity of tokens like SRM and RAY only on FTX, funds were deposited in FTX for market-making purposes.
AAX
AAX did not disclose the amount of losses, and in a statement, they indicated they will attempt to secure financing this week, continuing operations if successful, or commence legal proceedings for liquidation if unsuccessful.
MAX Exchange: Approximately $260,000
Previously reported, MaiCoin and MAX's exposure amounts to about $260,000, which has no impact.
Cryptocurrency Projects
Animoca Brands: Limited exposure
Game digital asset company Animoca Brands did not disclose the amount of exposure, with founder Yat Siu emphasizing that their exposure position is very limited in a written piece.
Solana Foundation: Approximately $1 million
The Solana Foundation released their transaction history with FTX and Alameda, along with assets left in FTX, valued at less than $1 million, emphasizing that operations remain unaffected:
- FTX Trading LTD equity: 3.24 million shares
- FTT: 3.43 million tokens
- SRM: 134 million tokens
Chainalysis
In a legal filing submitted on 11/16, Chainalysis was identified as a creditor, but did not specify the amount of funds.