FTX reports more than one million creditors

The operator of the bitcoin exchange FTX, which filed for Chapter 11 bankruptcy in the United States, has more than one million creditors. This is according to court documents.

“As stated in the debtors’ petitions, these cases involve more than one hundred thousand creditors. In reality, their number may exceed a million,” — the statement said.

The company proposed that cases against all 130 affiliated entities, including Alameda Research, be consolidated into a single process rather than handled individually in each case.

“The debtors argue that there is a reason to modify this requirement so that they present a consolidated list of their 50 largest creditors”, the statement said.

Representatives associated with Sam Bankman-Fried firms requested the ability to send creditor notifications by email.

The document notes that the exchange contacted law enforcement authorities regarding an unauthorized withdrawal of more than $400 million. The reason remains unknown.

There were also questions about the management of a complex set of assets and FTX-affiliated entities under Bankman-Fried’s leadership.

As reported in Alameda Research’s filing, it has more than 100,000 creditors. The company’s assets and liabilities are estimated in the range of from $10 billion to $50 billion.

According to Fortune, the U.S. Department of Justice has everything it needs to bring a criminal case against Bankman-Fried and other executives of the bankrupt exchange.

Earlier, the SEC and CFTC also began examining the connections between FTX and its U.S. subsidiary and Alameda, according to Bloomberg.

The agency deemed it unlikely that customers would recover funds from the bankrupt exchange, whose balance-sheet gap stood at about $8 billion.

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