More than a million customers can sue the FTX cryptocurrency exchange

The number of customers owed money by the cryptocurrency exchange FTX may be much higher than previously reported, as the company is asking to expand the list of creditors. The bankruptcy court of the US state of Delaware has published a document in which FTX lawyers asked to change the standard rules of litigation. This was done in order to include a larger number of clients of the exchange to whom payments are due. The document states that more than 100,000 creditors are involved in the bankruptcy case, but in reality, there may be more than a million.

Bankruptcy laws state that the debtor must submit a list of 20 people who have the largest claims against them. Instead, FTX’s lawyers are going to submit a list of the 50 most important creditors by the end of the week. The lawyers also suggested submitting a single list covering various divisions of FTX, Alameda Research, and several regional cryptocurrency companies, as many creditors will have ties to these firms.

The document also reports that John Ray has become the new CEO of the FTX crypto exchange — the specialist took the position to deal with the exchange’s bankruptcy. Currently, the interim CEO has started working with FTX’s external consultants on legal issues, restructuring, cybersecurity, and forensic expertise. All actions of the new CEO are focused on protecting the assets of the exchange’s clients. Ray also had to deal with a cyberattack on FTX that took place on the same day as the bankruptcy filing.

The day before FTX.com filed for bankruptcy, Сем Бенкман-Фрід" href="https://noworries.media/biography/sem-benkman-frid/" data-bio-id="3697″ data-wpel-link="internal">Sam Bankman-Fried 's exchange had only $ 900 million in liquid assets against $ 9 billion in liabilities. Most of these liquid assets, included in FTX’s international balance sheet from Thursday, consisted of $ 470 million worth of Robinhood shares.