FTX says publishing a list of 'valuable' customers will hurt its selling value
Release of nine million customer list 'would compromise' ability to maximize value for FTX creditors, banker says the stock market.
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FTX's list of around nine million customers is 'extraordinarily valuable' and could hurt the crypto exchange's sell value if published, a member of FTX's restructuring team argues .
In a court hearing published on June 8, Kevin Cofsky, a partner at investment bank Parella Weinberg under contract with FTX, said that if competitors were to get to know FTX's clients better, it would "harm" efforts to restructure the stock exchange.
Cofsky is part of the team aiming to extract maximum value from FTX, which could involve a potential sale of the embattled exchange, he said:
"We believe that existing customer base is extremely valuable and our understanding is based on our research and review of the costs incurred by other crypto companies specifically in soliciting customers."
The client list is currently under seal, but an objection to the decision has been filed by major media outlets, including Bloomberg, the Financial Times, the New York Times and the Wall Street Journal's parent company, Dow Jones & Company .
The media argued that the press and the public had "a presumptive right of access to bankruptcy filings".
Related: SEC Crypto Stocks Jump 183% in 6 Months After FTX Collapse
According to Cofsky, FTX has begun a "significant" process of soliciting interest from buyers, investors or
Release of nine million customer list 'would compromise' ability to maximize value for FTX creditors, banker says the stock market.
News
Join us on social networks
FTX's list of around nine million customers is 'extraordinarily valuable' and could hurt the crypto exchange's sell value if published, a member of FTX's restructuring team argues .
In a court hearing published on June 8, Kevin Cofsky, a partner at investment bank Parella Weinberg under contract with FTX, said that if competitors were to get to know FTX's clients better, it would "harm" efforts to restructure the stock exchange.
Cofsky is part of the team aiming to extract maximum value from FTX, which could involve a potential sale of the embattled exchange, he said:
"We believe that existing customer base is extremely valuable and our understanding is based on our research and review of the costs incurred by other crypto companies specifically in soliciting customers."
The client list is currently under seal, but an objection to the decision has been filed by major media outlets, including Bloomberg, the Financial Times, the New York Times and the Wall Street Journal's parent company, Dow Jones & Company .
The media argued that the press and the public had "a presumptive right of access to bankruptcy filings".
Related: SEC Crypto Stocks Jump 183% in 6 Months After FTX Collapse
According to Cofsky, FTX has begun a "significant" process of soliciting interest from buyers, investors or
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