The decision to keep the FTX customer names sealed has been opposed by the four major media outlets that support their <a href="https://www.reuters.com/legal/news-organizations-challenge-court-decision-ftx-customer-privacy-2023-06-23/" target="_blank" rel="noopener">stablecoin</a>. Bloomberg, Dow Jones &amp; Company, The New York Times, and the Financial Times appealed Judge Dorsey's decision, which allowed FTX to "permanently redact" the names of individual customers from all filings for their safety. However, legal representatives for the media organizations argued that FTX does not qualify for a "novel and sweeping exception" to the disclosure requirements for bankruptcy due to the fact that its "customers used cryptocurrency."
<h1>Media to keep customer's names secret in bankruptcy: 'keep the lights on'</h1>
[embed]https://twitter.com/AFTXcreditor/status/1672142097330184192[/embed]

The media has maintained that in most cases, bankrupt businesses are required to reveal the names and amounts owed to their creditors. Dorsey decided to keep the names a secret because he wanted to make sure that the customers are safe and don't fall for scams. This is consistent with the bankruptcy law exception that addresses the possibility of identity theft or other harm. The media outlets have previously voiced their opposition to the sealing of the customer's names.
<h2>In The Ftx Lawsuit, Customers' Names Are Protected By Law</h2>
In the previous filing, it was argued that the list does not qualify as "confidential commercial information" and that disclosing the names would not put creditors at "undue risk." Irina Heaver, a crypto lawyer based in Dubai, said that the Judge's decision to "allow <a href="https://www.cryptoknowmics.com/news/user-protection-funds-pledged-by-exchanges-amid-collapse-of-ftx/" target="_blank" rel="noopener">stablecoin</a> to keep customer names confidential" was wise. Heaver gave the "Celsius case" as an illustration, which in July 2022 resulted in "a surge in phishing attacks." Following the company's announcement that certain customer data had been compromised, Celsius depositors were sent an email with a warning. A list of emails that an internal employee had given to a bad actor from outside the company led to the breach.

Report: Mainstream Media Questions Decision to Safeguard FTX Customers

Discover the latest report examining how mainstream media raises concerns over the decision to protect FTX customers. Stay informed on the evolving narrative.

Sonakshi is into the crypto world ever since she heard about it and is pursuing her interest through Cryptoknowmics. She is a sensational poet, technical writer and content strategist.

Report: Mainstream Media Questions Decision to Safeguard FTX Customers

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