FTX believes its customer list could prove valuable as part of any sale of assets, or as part of a reorganization. They contend that secrecy is needed to protect FTX customers from theft and potential scams, and to ensure that potential competitors do not “poach” FTX customers.
“And at this point, we don’t even know where the shock waves, both individually and institutionally, have hit the hardest, and what institutions may have the largest, or no, exposure as a result.”īut lawyers for FTX and its official committee of unsecured creditors argued that its customer list is both a valuable asset and confidential commercial information.
“That collapse sent shock waves not just through the cryptocurrency industry, but the entire financial industry,” Townsend said. Katie Townsend, an attorney for the media outlets, had argued that the press and the public have a “compelling and legitimate interest” in knowing the names of those affected by the stunning collapse of FTX. “I want to make sure that they are protected and they don’t fall victim to any types of scams that might be happening out there.” “It’s the customers that are the most important issue here,” he said. He also said FTX customers need to be protected from bad actors who might target them by scouring the internet and the “dark web” for their personal information. Therefore, if you want to find out what are the other sources of financing from which to draw the money you need, without constantly resorting to new lines of credit Scroll to the top and click the buy now button.Dorsey ruled that customer identities constitute a trade secret.
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