Bankrupt crypto exchange FTX may have more than a million creditors, according to a new court filing.
FTX, which went bankrupt a short time ago, continues to be the dark cloud of the industry. In the process leading up to bankruptcy, the losses caused by the stock market, which has already brought many problems with it, are growing. It is stated that 100 thousand people who are reported to be creditors can reach 1 million.
FTX Has Over 100,000 Creditors
Crypto exchange FTX, which was founded by Sam Bankman-Fried and filed for bankruptcy last week, said it could have more than a million creditors, a sign of how complex this bankruptcy will be.
According to a court filing added Monday to the federal court database system PACER, “There are more than one hundred thousand creditors in Chapter 11 cases, as noted in the debtors’ petitions. In fact, there may be more than a million creditors.”
It also demands that FTX be able to serve bankruptcy notices to creditors via email instead of their physical residence, especially since their customers’ email addresses are already on file.
The file states that under the new CEO of FTX, John J. Ray III, the company is working with legal, cybersecurity and forensic advisors on its numerous subsidiaries and related bankruptcy processes.
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