Attorneys for the U.S. bankruptcy trustee in Delaware and several major media outlets are challenging an effort by cryptocurrency exchange FTX to withhold names of the company’s customers and creditors from the public.
Lawyers for FTX have argued that its customer list is both a valuable asset and confidential commercial information. They contend that secrecy is needed to protect FTX accounts from potential theft and to ensure that potential competitors do not “poach” FTX customers.
“Debtors have been accused of lack of transparency in their business. That mindset appears to have carried over to this bankruptcy,” wrote attorney David Finger, who is representing Bloomberg L.P., Dow Jones & Co., The New York Times and the Financial Times. The media companies argue that FTX is trying to hide information “that historically has been quintessentially public in nature.
“The court should not treat foreign citizens differently than the United States citizens implicated in this case,” Finger wrote in a court filing last week.Sarkessian, meanwhile, noted that FTX has not explained how it would determine which customers are citizens of the EU or the UK, given that the only contact information for some is an email address.
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