Chainalysis Confirmed as FTX Creditor in Bankruptcy Case

Analytics firm Chainalysis has announced that it is owed money in the bankruptcy proceedings for collapsed exchange FTX.

In documents filed to bankruptcy court in Delaware on Wednesday, Chainalysis was identified as a creditor and asked for any relevant materials to be sent to its lawyers.

The blockchain analysis firm had a longstanding relationship with FTX, going back to at least 2019, when the two joined forces to revamp the exchange’s anti-money laundering (AML) and know-your-customer (KYC) systems.

That relationship appeared to be in place as of August, when FTX last updated the help page on its website.

Chainalysis was also one of 53 companies which FTX confirmed earlier this year it was doing business with to Forbes. 

Others on the list include big four accounting firms Deloitte and PwC, payments provider Stripe, and a cadre of law firms.

Yesterday’s filings do not specify how much money Chainalysis may be owed. 

A representative for Chainalysis declined to comment when contacted by Decrypt.

Chainalysis joins FTX exposure list

FTX is expected to publish a list of its “Top 50” creditors by the end of this week but has said that there could be over 1 million people with claims in the case.

Some firms have already revealed their own exposure to FTX, whether through loans, holdings on one of its platforms, or stores of the FTT token.

Changpeng "CZ" Zhao, chief executive of Binance and would-be FTX savior, has said his company still holds a large supply of FTT.

Meanwhile, crypto lender BlockFi said it is mulling its own bankruptcy proceedings and layoffs this week after revealing “significant exposure” to FTX.