FTX Customer List Under Seal: Potential Release Threatens Sale Value

The release of the customer list of cryptocurrency exchange FTX,

consisting of around nine million customers, could harm its sale value, according to a member of the FTX restructuring team. Kevin Cofsky, a partner at investment bank Parella Weinberg, argued that competitors gaining knowledge of FTX's customers would be detrimental to the exchange's restructuring efforts. Media organizations, including Bloomberg and The New York Times, filed objections to keeping the list under seal, asserting their right to access bankruptcy filings. FTX is soliciting interest from buyers, investors, or a potential relaunch, and the customer list is considered extremely valuable.