FTX may have over 1 million creditors and is in touch with 'dozens' of regulators and investigators, the company's said in its first substantive bankruptcy filing. nikhileshde reports.
FTX may have more than 1 million creditors, according to a court filing that finally began to explain the company's descent into bankruptcy., filed to the federal court database system PACER late Monday, provided the first true glimpse of the crypto exchange's last day prior to filing for bankruptcy and its first few days going through the process. FTX's new CEO, veteran insolvency overseer John J.
"As set forth in the Debtors' petitions, there are over one hundred thousand creditors in these Chapter 11 Cases. In fact, there could be more than one million creditors in these Chapter 11 Cases. As such, the Debtors submit that cause exists to modify that requirement such that the Debtors will file a consolidated list of their top 50 creditors," the filing said.
FTX filed for bankruptcy on Friday morning, saying it had between $10 and $50 billion in assets and liabilities and over 100,000 creditors. Monday's filing did not address the questions of what assets or liabilities the exchange can currently lay claim to, but said the new leadership team is working to"secure and marshal" its assets. This includes having multiple lawyers and experts to review FTX and its subsidiaries' books.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX Founder Secretly Moved Funds Through Backdoor: FTX InsiderFTX insider has reportedly stated that recent FTX 'hack' was illegal withdrawal of funds from FTX to Alameda Research
Read more »
Pissed, pessimistic and paranoid, FTX clients face new reality: 'It’s all gone.'“Should’ve known when he said he was a vegan altruist not to trust him.' FTX customers' reactions to platform's demise run the gamut.
Read more »
FTX to reorganize, new CEO seeks support from staff during company conference callFormer CFTC lawyer Ryne Miller is committed to stay to 'clean things up,' according to a source.
Read more »
Miami Heat’s home arena will get new name after FTX collapseThe building had been called FTX Arena since June 2021, and a 19-year, $135 million sponsorship agreement between FTX and the county was just getting started.
Read more »
First Mover Americas: FTX Faces Criminal ChargesBankrupt crypto exchange FTX is facing criminal charges in the Bahamas, where its headquarters are located. JamieCrawleyCD reports.
Read more »