Mainstream Media Intensifies Call for Non-US FTX User Identities to be Disclosed

Four major U.S. media outlets, including Bloomberg, Dow Jones, The New York Times, and the Financial Times, have renewed their efforts to obtain the identities of non-U.S. customers of crypto exchange FTX.

The media firms filed a new objection to the motion to seal their identities on May 3, citing the lack of legal basis to redact the names according to non-U.S. data privacy laws.

The media outlets argue that section 105 of the Bankruptcy Code, which grants the bankruptcy court judicial power, does not permit foreign law to override the right of access to information under U.S. constitutional and statutory law.

The firms claim that the public has a strong presumptive right to inspect bankruptcy filings, which cannot be abrogated by a party’s assertion of legal obligations under foreign law.

The media outlets previously argued that the names of FTX’s creditors do not constitute confidential commercial information and that disclosure of such information would not subject the creditors to undue risk.

FTX and the Official Committee of Unsecured Creditors have until May 4 at 4:00 pm Eastern Time to submit an objection. The hearing date for the filing will take place on May 17 at 1:00 pm.