FTX Protects Customer Privacy, Denies Request for Valuable List
Key Points:
- FTX argues releasing customer list will harm its sale value.
- The list of around nine million FTX customers is “extraordinarily valuable” and could harm the crypto exchange’s sale value if released.
- FTX restructuring team believes the customer base is “extremely valuable and valued” by those interested in the business.
Kevin Cofsky, a partner at investment bank Parella Weinberg, spoke about the value of FTX’s customer list, which has around nine million customers.
Cofsky is part of the FTX restructuring team that aims to maximize the value of the exchange and could involve a sale or even a relaunch of the exchange. At the hearing, Cofsky argued that the customer list is “extraordinarily valuable” and could harm FTX’s restructuring efforts if competitors were to gain knowledge of it. He added that the team’s understanding is based on research and having looked at the costs incurred by other crypto companies specifically to solicit customers.
Currently, the customer list is under seal, but mainstream media outlets, including Bloomberg, the Financial Times, The New York Times, and The Wall Street Journal’s parent firm, Dow Jones & Company, objected to the decision. These organizations argued that the press and public have “a presumptive right of access to bankruptcy filings.”
FTX has begun a “significant” process of soliciting interest from buyers, investors, or even a relaunch of the exchange. The customer list is “extremely valuable and valued” by those interested in the business. Cofsky believes that even if the exchange isn’t sold or finds investors, a relaunch of the exchange could see creditors collect a portion of the trading fees on what he dubbed a “first-class” and “regulatorily compliant”.
FTX restructuring team is working hard to ensure that the exchange’s value is maximized to the fullest extent possible. Therefore, the customer list is an essential component that must be kept confidential to prevent competitors from gaining an unfair advantage and to avoid harming FTX’s restructuring efforts.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
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FTX Protects Customer Privacy, Denies Request for Valuable List
Key Points:
- FTX argues releasing customer list will harm its sale value.
- The list of around nine million FTX customers is “extraordinarily valuable” and could harm the crypto exchange’s sale value if released.
- FTX restructuring team believes the customer base is “extremely valuable and valued” by those interested in the business.
Kevin Cofsky, a partner at investment bank Parella Weinberg, spoke about the value of FTX’s customer list, which has around nine million customers.
Cofsky is part of the FTX restructuring team that aims to maximize the value of the exchange and could involve a sale or even a relaunch of the exchange. At the hearing, Cofsky argued that the customer list is “extraordinarily valuable” and could harm FTX’s restructuring efforts if competitors were to gain knowledge of it. He added that the team’s understanding is based on research and having looked at the costs incurred by other crypto companies specifically to solicit customers.
Currently, the customer list is under seal, but mainstream media outlets, including Bloomberg, the Financial Times, The New York Times, and The Wall Street Journal’s parent firm, Dow Jones & Company, objected to the decision. These organizations argued that the press and public have “a presumptive right of access to bankruptcy filings.”
FTX has begun a “significant” process of soliciting interest from buyers, investors, or even a relaunch of the exchange. The customer list is “extremely valuable and valued” by those interested in the business. Cofsky believes that even if the exchange isn’t sold or finds investors, a relaunch of the exchange could see creditors collect a portion of the trading fees on what he dubbed a “first-class” and “regulatorily compliant”.
FTX restructuring team is working hard to ensure that the exchange’s value is maximized to the fullest extent possible. Therefore, the customer list is an essential component that must be kept confidential to prevent competitors from gaining an unfair advantage and to avoid harming FTX’s restructuring efforts.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Annie
Coincu News
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