Top Media Demands Court to Release Data of 9M FTX Customers

    In a recent court filing, Bloomberg, The New York Times, and The Financial Times are requesting that the FTX bankruptcy court provide a list of the 9 million customers and creditors amid concerns of scams.

    So far, the complete list of creditors has been kept confidential by the court. In an April filing, the FTX and the Official Committee of Unsecured Creditors had requested that the court withhold customers’ information for fear of scams, identity theft, asset theft, personal attack, and further online victimization.

    However, the media outlets argue that such fears are only speculations, and the public’s presumed right to examine bankruptcy filings cannot be overcome by such. Additionally, they stated that there is no provision under foreign laws that prevents the disclosure of customers’ identities in a bankruptcy court.

    Furthermore, the media platforms highlighted that the majority of people who take part in bankruptcy proceedings do so publicly. According to them, if a desire for secrecy were sufficient grounds for redaction, a court would be required to seal all personal information in every case.

    Defunct FTX Receives Offers for Relaunch

    The recently appointed FTX CEO, John J. Ray III, has previously expressed interest in restarting the defunct cryptocurrency exchange. The idea of a potential reboot, however, has developed over the past several months.

    According to reports, Tribe Capital, a venture firm that invested in the platform prior to the FTX crash, is now considering a $250 million capital injection to jump-start the initiative. 

    According to the details, the investment firm is considering taking the lead on a $250 million fund-raising campaign, with an initial anchor contribution of $100 million from the company and its limited partners.

    Notably, Tribe was a shareholder in the international FTX exchange as well as its American spinoff, FTX US. The San Francisco-based venture capital firm manages more than $1.6 billion in assets and has previously funded the cryptocurrency exchange Kraken.

    Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter, Linkedin

    The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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