The FTX liquidation crisis turned bankruptcy saga continues as a recent filing reveals additional information on Sam Bankman-Fried’s leadership and the exchange’s final days.
On Nov. 14, a new document was filed in a United States federal court in Delaware, where FTX US is based. It revealed that the exchange may have “more than 1 million creditors in these Chapter 11 Cases.”
This comes after Bankman-Fried’s voluntary Chapter 11 bankruptcy filing on Nov. 11, which initially set forth 100,000 creditors. These speculated 1 million creditors are said to belong to more than 100 different companies.
The document also highlights Bankman-Fried’s resignation on Nov. 11 and reiterates that the company is now operating with restructuring executive John Jay Ray III as its CEO.
FTX’s new leadership petitioned to consolidate its