A group of media companies is set to argue to the U.S. judge overseeing the FTX bankruptcy that they should be allowed to request that the collapsed crypto exchange make public the names of its customers
, Dow Jones, Bloomberg and the Financial Times said bankruptcy law demands transparency. Letting customer names remain secret could turn bankruptcy proceedings into a "farce" if creditors start fighting anonymously over how much money they should get, the media companies wrote in a Delaware bankruptcy court filing.
FTX has argued the usual U.S. bankruptcy practice of disclosing names, addresses and email addresses of creditors, which includes customers, could expose them to scams and could violate privacy laws for those who live in Europe. The company has also said that disclosing identities of as many as 1 million customers would make it easier for a competitor to poach them, undermining the value of FTX's platform when it is looking for buyers.
The U.S. Trustee, part of the U.S. Department of Justice, has already objected to FTX's request and argued that transparency helps protect against impropriety in bankruptcy cases.Friday's bankruptcy hearing comes at the end of a dramatic week for the crypto exchange. Founder Sam Bankman-Fried was arrested on
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX wants permission to sell FTX Japan and FTX Europe as well as LedgerXFTX has asked the Delaware Bankruptcy Court for permission to sell LedgerX, Embed, FTX Japan and FTX Europe, after CFTC Chairman Rostin Bernham noted that LedgerX has more cash than the rest of the debtors combined.
Read more »
Former FTX spokesman Kevin O'Leary says he believes Binance put FTX 'out of business intentionally'Ex-FTX spokesman Kevin O'Leary told a Senate committee Wednesday he believes FTX rival Binance put the fallen crypto exchange 'out of business intentionally.'
Read more »
FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX and Sam Bankman-FriedFTX Digital Markets co-CEO alerted the securities regulator in the Bahamas to the fraud being committed at the exchange, telling the authorities that FTX was sending customer funds to Alameda Research.
Read more »
Congressmen Lawson, Torres Weigh in On Celeb Accountability in FTX CollapseThe collapse of the famed crypto exchange FTX has spurred a lot of finger-pointing -- but on the issue of whether Hollywood is partially to blame ... Congress has different opinions.
Read more »
Crypto markets hit harder by Terra, Celsius and 3AC than FTX: ChainalysisThe collapse of the crypto exchange FTX wasn't the most impactful event for crypto investors this year — at least from a market-wide perspective.
Read more »
2 Reasons Why Solana (SOL) Is RallyingStrong price performance of Solana on market is last thing you would expect after FTX implosion
Read more »