- The stock exchange intends to file a petition to extend the ban on publication
- Apparently disclosing the client base would cause tangible damage to the estimated value of the company’s assets
The call to disclose information about creditors and partners of the bankrupt stock exchange was heard as early as this winter.. The court then made it clear that it was not prepared to disregard the safety of these individuals. But there’s a new hearing ahead, and FTX is under renewed pressure to disclose its client list.
Commented on the situation was Kevin Kofsky, a partner at Perella Weinberg Partners.. This is the company that assesses the prospects for the reorganization of FTX Group. As you can see, management has not abandoned plans to return to the market.
According to Kofsky, the publication of the list of valuable clients of the exchange will cause significant damage to the company. Not only would this affect its potential value in a possible asset sale, but it would also significantly reduce the chances of returning to the market:
“We have 9 million customers, and as we assess the potential for future recourse to the site, we believe the existing base is extremely valuable. Our opinion is based on an understanding and analysis of the costs that other cryptocurrency companies have incurred in trying to attract new audiences.”
In early January, bankruptcy judge John Dorsey granted FTX’s motion to withhold publication of the customer list. The decision was made for a period of three months. Today, June 9, there will be another trial, and the exchange will appeal for an extension.
We also note that the court has transferred full control of the disputed assets FTX in the amount of $ 7.3 billion to the federal authorities. Earlier they were claimed by the regulator of the Bahamas.