FTX Is Allowed to Hide the Identity of Its 50 Biggest Creditors
US Bankruptcy Judge John Dorsey agreed to let the fallen crypto exchange redact the names of the 50 biggest unsecured creditors owed a total of $3.1 billion. The US Bankruptcy Code normally requires the names be filed in documents available to the public. Representatives for FTX argued those creditors are also customers and disclosure would allow rivals to steal their business.
To Fund Its Bankruptcy, FTX Plans to Sell Off It's Healthy Business Units
A lawyer for FTX said at a bankruptcy hearing on Tuesday that the company now intends to sell off healthy business units but has been the subject of cyberattacks and had "substantial" assets missing.
FTX Bankruptcy Judge Says Creditor Information Can Be Redacted – At Least for Now
FTX creditors concerned about their names and other personal information being disclosed as part of the crypto exchange’s bankruptcy proceedings can breathe a sigh of relief – at least temporarily. Delaware District Court Judge John Dorsey approved a motion on an interim basis allowing FTX to redact information including names and addresses on its creditor matrix during a hearing Tuesday.
Chainlink: How the FTX Crash Turned Out To Be a Silver Lining for LINK
<a href="https://ambcrypto.com/?s=Chainlink">Chainlink’s [LINK]</a> response to the <a href="https://ambcrypto.com/ftt-collapse-post-mortem-how-ftx-was-led-by-kids-with-no-experience/">FTX collapse</a> that spread wreckage round the market has been full of favor. While panic became the order of the day, it was not the circumstance for LINK.
Bankman-Fried Apologizes to FTX Employees, Details Amount of Leverage in Internal Letter
FTX founder Sam Bankman-Fried apologized to his employees and offered his explanation of why the crypto exchange collapsed in a two-page letter circulated among his former colleagues.
FTX Bankruptcy Hearing: Lawyers Detail the 'Abrupt and Difficult' Collapse of FTX
James Bromley, of Sullivan and Cromwell who is representing FTX, detailed the company’s rise and collapse in a brief presentation during the hearing, explaining how the company fell apart within the course of two weeks after <a href="https://www.coindesk.com/business/2022/11/02/divisions-in-sam-bankman-frieds-crypto-empire-blur-on-his-trading-titan-alamedas-balance-sheet/">a CoinDesk report</a> showed that Alameda Research, a subsidiary of the overall FTX group, held an unexpectedly large amount of FTT tokens, issued by FTX itself.
FTX Bankruptcy Hearing: New Leadership Cooperating With Us Law Enforcement and Regulators
The current corporate leadership of FTX and its associated companies are cooperating with investigators for the U.S. government and regulators, a lawyer representing the troubled firm said in an inaugural bankruptcy hearing today.
Singapore Central Bank Explains Why Binance Was on Its Alert List, but FTX Wasn’t
The Monetary Authority of Singapore (MAS), the country’s central bank, <a href="https://www.mas.gov.sg/news/media-releases/2022/mas-statement-to-address-misconceptions-in-the-wake-of-collapse-of-ftx" target="_blank">released</a> a statement Nov. 21 to address “some questions and misconceptions that have arisen in the wake of the FTX.com (FTX) debacle.” The agency explained its
'Substantial Amount' of FTX's Assets Stolen or Missing, Says Lawyer Representing FTX Debtors
In a live stream of FTX Trading’s bankruptcy proceedings on Nov. 22, James Bromley, a partner at law firm Sullivan & Cromwell representing debtors in FTX’s bankruptcy case in the District of Delaware, <a href="https://www.deb.uscourts.gov/FTXLiveStream" target="_blank">said</a> “Unfortunately [...] a substantial amount of assets have either been stolen or are missing. We are suffering from cyberattacks, both on the petition date and the days following, and we have, as I mentioned earlier, engaged sophisticated expertise to protect against the hacks, but they continue”.
Sequoia Capital Apologizes to Investors After $150 Million FTX Loss
Sequoia Capital partners apologized to investors for the $150 million it lost on investments in crypto exchange FTX, the Wall Street Journal reported.
