{"id":510278,"date":"2022-11-15T16:37:25","date_gmt":"2022-11-15T13:37:25","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ftx-bankruptcy-filing-speculates-over-1m-creditors\/"},"modified":"2022-11-15T16:37:25","modified_gmt":"2022-11-15T13:37:25","slug":"ftx-bankruptcy-filing-speculates-over-1m-creditors","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ftx-bankruptcy-filing-speculates-over-1m-creditors\/","title":{"rendered":"# FTX bankruptcy filing speculates over 1M creditors"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a276706ea96b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a276706ea96b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/ftx-bankruptcy-filing-speculates-over-1m-creditors\/#%E2%80%9D_FTX_bankruptcy_filing_speculates_over_1M_creditors_%E2%80%9C\" >&#8221; FTX bankruptcy filing speculates over 1M creditors  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_FTX_bankruptcy_filing_speculates_over_1M_creditors_%E2%80%9C\"><\/span>&#8221; FTX bankruptcy filing speculates over 1M creditors  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYTAwNzQ0OTItNDVhOS00NDY1LWEyN2MtMWE4ZGEwZDg5Y2YxLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-e13e51fa>The FTX liquidation crisis turned bankruptcy saga continues as a recent filing reveals additional information on Sam Bankman-Fried\u2019s leadership and the exchange\u2019s final days.<\/p>\n<p>On Nov. 14, a new <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.deb.188450\/gov.uscourts.deb.188450.9.0.pdf\">document<\/a> was filed in a United States federal court in Delaware, where FTX US is based. It revealed that the exchange may have \u201cmore than 1 million creditors in these Chapter 11 Cases.\u201d<\/p>\n<p>This comes after Bankman-Fried\u2019s voluntary Chapter 11 bankruptcy filing on Nov. 11, which initially set forth 100,000 creditors. These speculated 1 million creditors are said to belong to more than 100 different companies.<\/p>\n<p>The document also highlights Bankman-Fried\u2019s resignation on Nov. 11 and reiterates that the company is now operating with restructuring executive John Jay Ray III as its CEO.<\/p>\n<p>FTX\u2019s new leadership petitioned to consolidate its claims into a single list consisting of 50 individuals and organizations due to overlap and the number of creditors involved. <\/p>\n<blockquote><p>\u201cThe debtors anticipate overlap among the various debtors\u2019 creditor lists, and certain debtors may have fewer than 20 significant unsecured creditors.\u201d <\/p><\/blockquote>\n<p>The company also asked permission from the courts to file electronically by email rather than post. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Law Decoded, Nov. 7\u201314: How regulators reacted to the FTX crash<\/em><\/strong><\/p>\n<p>The latest document also\u00a0touched on Bankman-Fried\u2019s final days as CEO of the exchange. It said in the lead-up to the events of Nov. 11, \u201cQuestions arose about Mr. Bankman-Fried\u2019s leadership and the handling of FTX\u2019s complex array of assets and businesses under his direction.\u201d<\/p>\n<p>As events surrounding FTX unraveled, rumors\u00a0began to surface regarding the former CEO\u2019s status and whereabouts. Currently, it is understood that he is\u00a0under supervision in the Bahamas\u00a0and potentially looking to flee to Dubai. <\/p>\n<p>The filing also highlighted the interest of global regulators, as FTX was one of the world\u2019s largest exchanges. <\/p>\n<blockquote><p>\u201cThere is substantial interest in these events among regulatory authorities around the\u00a0world.\u201d<\/p><\/blockquote>\n<p>Following the industry-rattling events, many regulators spoke out in need of tighter, more defined crypto regulations. <\/p>\n<p>Maxine Waters, the chair of the U.S. House of Representatives Financial Services Committee,\u00a0warned of \u201cmajor consequences\u201d\u00a0for those using unregulated crypto companies.<\/p>\n<p>Regulators in California and New York City also said they would be looking into the collapse of the exchange. Outside of the U.S., federal entities in both the Bahamas and Turkey\u00a0are investigating the situation. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/ftx-bankruptcy-filing-speculates-over-1-million-creditors\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; FTX bankruptcy filing speculates over 1M creditors &#8220; The FTX liquidation crisis turned bankruptcy saga continues as a recent filing reveals additional information on Sam Bankman-Fried\u2019s leadership and the exchange\u2019s final days. On Nov. 14, a new document was filed in a United States federal court in Delaware, where FTX US is based. It&#8230;<\/p>\n","protected":false},"author":1,"featured_media":510279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvYTAwNzQ0OTItNDVhOS00NDY1LWEyN2MtMWE4ZGEwZDg5Y2YxLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74863,74860,135234,127241,89897,4978,117,70934,67874],"class_list":["post-510278","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-cryptocurrencies","tag-cryptocurrency-exchange","tag-ftx","tag-ftx-token","tag-sam-bankman-fried","tag-bankruptcy","tag-business","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=510278"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/510278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/510279"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=510278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=510278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=510278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}