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cryptoClosed Nov 22, 2022

FTX Bankruptcy Hearing

  • FTX ‘not particularly well run,’ attorney says
  • Judge urges ‘decorum’ at bankruptcy hearing
  • ‘Substantial’ amount of assets stolen or missing
  • Judge says big creditors’ names can be withheld for now
Thanks for joining us. Here are five key takeaways from Tuesday’s FTX bankruptcy hearing:
  • Company advisers are in constant communication with the Justice Department and the Southern District of New York’s cyber-crimes unit, which has opened a criminal investigation related to FTX.
  • A “substantial amount” of FTX assets are stolen or missing, lawyers for the company said.
  • The US House and Senate have requested that new FTX CEO John J. Ray III testify at some point in December.
  • Identifiable information of FTX’s top 50 creditors is being kept secret for now; a hearing to reconsider that is set for Dec. 16.
  • FTX will be back in court for a more comprehensive second hearing in January.