• About Us
  • Careers
  • Contact
No Result
View All Result
Sunday, August 31, 2025
DeFi Planet
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer
No Result
View All Result
DeFi Planet
No Result
View All Result
Home News Latest News

FTX’s New Management Team Is in Touch With Regulators; May Have Over 1M Creditors

15 November 2022
in Latest News, News
Reading Time: 3 mins read
102 8
FTX's New Management Team Is in Touch With Regulators; May Have Over 1M Creditors

Source: khaleejtimes.com

According to a court document that finally began analyzing the company’s demise in detail, FTX may have more than one million creditors.

The document, filed late Monday with the federal court database system PACER, provides the first proper look at the crypto exchange’s final day before declaring bankruptcy and its first few days in the process. 

According to the petition, FTX’s new CEO, seasoned insolvency overseer John J. Ray III, is working with legal, cybersecurity, and forensic experts on the company’s several subsidiaries and their respective bankruptcy processes. 

FTX filed nearly 100 dockets for its numerous affiliated firms, including Alameda Research, a quant trading firm that held a large number of FTT tokens; West Realm Shires, a business entity in the United States that acts as FTX in different jurisdictions; and Clifton Bay Investments.  

FTX filed motions in several dockets to jointly administer the overarching umbrella group of entities rather than treating each as a separate matter. As part of this endeavour, FTX is also asking if it can generate a top 50 list of creditors for the overall structure rather than a list of the top 20 creditors for each individual company. Furthermore, FTX believes it has over a million debtors in total.

The filing read,

“According to the Debtors’ filings, there are over 100,000 creditors in these Chapter 11 Cases. In reality, more than one million creditors may be involved in these Chapter 11 cases. As a result, the Debtors argue that there is sufficient reason to amend that provision so that the Debtors will file a consolidated list of their top 50 creditors. ” 

The exchange’s operators are also asking the court to enable them to send the bankruptcy notice to FTX’s creditors rather than serving them at their homes. 

According to the paper, customers of FTX mostly communicated with the exchange online, so their emails are already on file. 

The filing mentioned Friday’s hack, in which hundreds of millions of dollars in cryptocurrency were stolen from FTX’s wallets, and confirmed that FTX has been in contact with “dozens” of state and federal regulators around the world, including the US Attorney’s Office, the Securities and Exchange Commission, the Commodity Futures Trading Commission, and others.  

Former District Judge Joseph Farnan, FTX Trading’s Matthew Doheny, West Realm Shires Inc.’s Mitchell Sonkin, Alameda Research’s Matthew Rosenberg, and Clifton Bay Investments’ Rishi Jain have all been named directors. 

FTX declared bankruptcy on Friday morning, claiming between $10 and $50 billion in assets and obligations and over 100,000 creditors. 

The filing on Monday did not address the exchange’s current assets or liabilities but stated that the new leadership team is trying to “protect and marshal” its assets. This includes having numerous lawyers and experts evaluate the books of FTX and its subsidiaries.

 

If you would like to read more articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, and Instagram.

“Take control of your crypto portfolio with MARKETS PRO, DeFi Planet’s suite of analytics tools.”

Don't miss out!

Subscribe To Our Newsletter

Receive top education news, lesson ideas, teaching tips and more!
Invalid email address
Give it a try. You can unsubscribe at any time.
Thanks for subscribing!
Share64Tweet40Share11
Endurance Okpanachi

Endurance Okpanachi

Related Posts

source: 21shares.com
Crypto

21Shares Files for First U.S. SEI ETF, Joining Race with Canary Capital

29 August 2025
source: u.today
Bitcoin

Bitwise Forecasts Bitcoin Could Hit $1.3 Million by 2035

29 August 2025
source: coindoo.com
Bitcoin

Coinone Debuts Korea’s First Flexible Bitcoin Staking Service

29 August 2025
source: transfi.com
Stablecoin

Venture Capitalists Bet Big on Programmable Stablecoins as Market Hits $280B

29 August 2025

Editors Picks

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

Web3 in 2025: Where We Are, What’s Next, and What the Data Says

byOlayinka Sodiq
21 July 2025
0

What Is a Rebase Token and How Does It Work?

What Is a Rebase Token and How Does It Work?

byOlajumoke Oyaleke
28 June 2025
0

What Are DeFi Options Vaults, and How Do They Work?

What Are DeFi Options Vaults, and How Do They Work?

byOlajumoke Oyaleke
26 June 2025
0

What Are Teardrop Attacks in Crypto?

byOlajumoke Oyaleke
17 June 2025
0

What Are Fractional NFTs, and How Do They Work?

What Are Fractional NFTs, and How Do They Work?

byBlessing Lisafi
7 February 2024
0

Read More

Chain of Thought

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

Zero-Knowledge Everything: Trust, Privacy, and Verification in the Digital Age

byOlu Omoyele
30 August 2025
0

...

What Happens When AI Gets a Wallet?

What Happens When AI Gets a Wallet?

byOlu Omoyele
31 July 2025
0

...

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

The Game-changing Triumvirate: Blockchain, Data Science, and Artificial Intelligence

byOlu Omoyele
30 June 2025
0

...

Are Stablecoins Bank Deposits?

Are Stablecoins Bank Deposits?

byOlu Omoyele
31 May 2025
0

...

Markets Update

Your Weekend Crypto Roundup | August 2025 (Week 4)

1 week ago

SUI Ecosystem: Price Prediction, Market Dynamics, and Strategic Developments

1 week ago

How Much Ethereum Do Public Companies Actually Own?

2 weeks ago

Your Weekend Crypto Roundup | August 2025 (Week 3)

2 weeks ago

Ripple vs. SEC Nears Final Countdown: Will August 15 End Crypto’s Longest Court Battle?

3 weeks ago

Cardano Price Prediction 2025–2030: Decentralized Governance, Technical Upgrades, and Investment Outlook

3 weeks ago
Read More

Events

CBDC Conference
CBDC Conference
9 Sep 25
Nassau

Spotlight

All about Ethereum
All about Algorand
All about Bitcoin
All about Gora

Press Releases

Ethereum-Based Meme Project Pepeto ($PEPETO) Surges Past $6.5M in Presale

bychainwire
29 August 2025
0

GCL Subsidiary, 2Game Digital, Partners with KuCoin Pay to Accept Secure Crypto Payments in Real Time

bychainwire
28 August 2025
0

Tether announces plan to bring USD₮ to RGB, advancing native stablecoins on Bitcoin and Lightning

bychainwire
28 August 2025
0

$MBG Token Supply Reduced by 4.86M in First Buyback and Burn by MultiBank Group

bychainwire
27 August 2025
0

Origin Summit Debuts in Seoul during KBW as Flagship Gathering on IP, AI, and the Next Era of Blockchain-enabled Real-World Assets

bychainwire
26 August 2025
0

Read More

ADVERTISING

ABOUT

TEAM

CAREERS

CONTACT

TERMS & CONDITIONS

PRIVACY POLICY

© Copyright 2025 DeFi Planet

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Please enter and activate your license key for Cryptocurrency Widgets PRO plugin for unrestricted and full access of all premium features.

Add New Playlist

No Result
View All Result
  • News
    • People
    • Business
    • Crime
    • Regulation
    • Crypto
    • CBDC
  • Markets
    • Bitcoin
    • Ethereum
    • Stablecoins
    • Altcoins
    • Crypto ETFs
    • Memecoins
  • Policy
  • Articles
    • Press Releases
    • Opinion
    • Explainers
    • Guest Post
    • Sponsored
  • Directory
    • Companies
    • People
    • Products
    • Wallets
  • Multimedia
    • Videos
    • Podcasts
  • Learn
    • DeFi Basics
    • Tutorials
    • Reviews
    • Blockchain Fundamentals
  • Research
    • Case Studies
  • Explore
    • DeFi
    • Crypto Gaming
    • NFT
    • DAO
    • Metaverse
    • Glossary
  • Jobs
  • Markets Pro
    • DeFi Planet Pro
    • Spend Crypto
    • Swap Crypto
    • Coin Prices
    • Crypto Exchanges
    • Crypto Analyzer

© Copyright 2024 DeFi Planet   |   Terms & Conditions   |   Privacy Policy

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00