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FTX bankruptcy may affect a million creditors
Billions in cryptocurrency FTX funds reportedly vanished
Macro Mavens founder Stephanie Pomboy joined ‘Fox Business Tonight’ to weigh in on the collapse of cryptocurrency exchange FTX.
The fallout from FTX Trading’s bankruptcy may touch more than one million creditors. The revelation came in a court document which shows just how massive the job will be of untangling a bankruptcy that includes more than 130 affiliates.
Lawyers for the cryptocurrency exchange asked a U.S. bankruptcy court to modify normal requirements for disclosing creditors.
"The debtors submit that filing separate creditor lists for each debtor would be of limited utility because the debtors anticipate overlap among the various debtors' creditor lists."
FTX noted they know of 100,000 creditors, most of whom are customers. However, the bankruptcy proceeding may also affect former customers and others.