Cointime

Download App
iOS & Android

FTX Bankruptcy Case Inches Closer to Potentially Naming Creditors

Lawyers for beleaguered crypto exchange FTX did not object to media arguing in the firm’s bankruptcy case, taking a step toward potentially identifying customers tied up in the collapse.

Media outlets including The New York Times and Bloomberg recently filed a motion in the FTX case to make creditor information public, citing public interest. Lawyers for FTX, however, want to keep the creditor list private. A federal judge moved to keep FTX creditors anonymous on a temporary basis in November.

Both parties appeared before a Delaware bankruptcy court judge Friday morning to hash out how the court would handle the disagreement. FTX has more than 100,000 creditors, and the top 50 could be owed $3.1 billion.

“We are already starting a process of names dribbling out,” said David Finger, the attorney representing media outlets seeking to intervene in the case. “The names are going to come out eventually.”

The next hearing on that matter in the bankruptcy case is set for Jan. 11.

Lawyers for FTX also said they no longer wished to keep an indemnification and exculpatory motion under seal. They previously asked the court to keep a motion under seal because the firm worried it would reveal some details of their asset recovery efforts. Assets worth hundreds of millions of dollars were transferred from FTX the night the firm filed for bankruptcy. Now, lawyers say FTX has made progress in the recovery and they are comfortable with unsealing the motion.

FTX
Comments

All Comments

Recommended for you

  • Cointime May 3rd News Express

    1. The 133rd Ethereum ACDC meeting: The goal is to complete the devnet within 7-10 days
  • Cointime April 23th News Express

    1. EigenLayer: Deposit limits for all LST tokens will be removed on April 16
  • Cointime April 5th News Express

    1.Mystiko.Network Community Sale Completed, Total $11.25 Million in XZK Sold2.Solana Co-founder Responds to the Sharp Increase in Transaction Failure Rates: Patch Coming Soon3.Ethena USDe market value exceeds 2 billion US dollars, setting a new record4.Du Jun, Executive Director and CEO of Xinhuo & Founder of ABCDE: Xinhuo Technology and ABCDE will invest 100 million US dollars to support blockchain companies that promote social development 5.QCP Capital: Bitcoin is expected to return to $70,000 this week, while Ethereum continues to be weak6.bitSmiley Labs officially launches its independent ecosystem plan, bitUniverse, and reveals its OG pass bitDisc-Black Upgraded Priviledges 7.Avalanche Foundation launches ice-breaking plan, focusing on LST track in the first phase and funding 500,000 AVAX 8.SuperRare Expands into Bitcoin Ordinals with Killer Acid's Psychedelic Art Collection 9.A dormant whale address for 8 months deposited 1,100 BTC into Binance10.Meme exchange DerpDEX.com completes multi-million dollar strategic investment, with participation from ABO Digital and others
  • Terra founder Do Kwon to be extradited to U.S.

    Terra founder Do Kwon will be extradited to the United States.
  • Cointime February 3 News Express

    1. Ripple payment service "Ripple Payments" plans to return to the US market and launch targeted solutions
  • FTX Was Never Really Bankrupt

    The prosecution in Sam Bankman-Fried’s criminal trial drilled into the jurors’ heads that FTX customer losses exceeded $8 billion, but never substantiated that claim. In reality, the crypto exchange had sufficient assets to make creditors whole all along – a fact that would likely change the public’s perception of its founder.
  • Cointime January 14 News Express

    1.Digital asset protocol Metaplex will list its Solana inscription on January 162.Investment bank TD Cowen: The U.S. SEC will not approve an Ethereum spot ETF in the short term3.Binance, Kraken and other nine trading platforms have been removed from Google App Store in India4.Barclays economists advance forecast for Fed rate cut to start from June to March5.The Chairman of the U.S. SEC issued a statement on the theft of the SEC's official Twitter account: The impact is still being evaluated and the company is cooperating with law enforcement agencies for
  • Cointime January 7th News Express

    1.Ordinals’ cumulative fee income exceeds 5,400 BTC
  • Cointime December 31st News Express

    1.Linea mainnet has crossed 305,685 ETH
  • Cointime December 24 News Express

    1.RTFKT will launch the Animus project in Q1 2024