Committee for Creditors Established in FTX Case

Cryptocurrency exchange FTX and Alamenda Research There has been a new development in the bankruptcy case filed for subsidiary companies such as.

In the case, it was decided to set up a committee to represent unsecured creditors, namely FTX customers. The creditors committee will be the voice of investors who have money left in all subsidiaries, not just FTX.

The US Trustee, part of the US Bank of Justice, said earlier this week that it was very difficult to form a collective committee. Although Trustee put this argument forward due to the fact that FTX customers are located around the world, the court accepted the new committee today.

US prosecutors are putting great pressure on who or what companies FTX owes. However, the bankrupt exchange wants customer information to remain confidential, arguing that it also contains value. FTX officials claimed that they could compensate some of the losses by selling customers’ information.

Why Did The FTX Stock Exchange Go Down?

The world’s largest crypto exchange Binance and FTX After a series of conflicts between investors, some of the investors wanted to withdraw their money from FTX. After the withdrawal requests increased, it was determined that the stock market’s safe was actually empty and that it lent its customer guarantees to its subsidiary company Alamenda Research.