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Key FTX Creditor Committee Seats Go To Wintermute, Venture Capital Octopus

Crypto trading platform Wintermute Asia PTE. has been granted membership on the FTX creditor committee, giving it the opportunity to influence decisions regarding the closure of the bankrupt cryptocurrency exchange, alongside organizations from the Caribbean, Hong Kong, and the United States, according to a Thursday court filing.

The Department of Justice has designated the venture capital firm Octopus, the Gibraltar-based Wincent Investment Fund, and several individual investors to represent the potentially millions of people who are owed money due to the failure of the Bahamas-based firm, whose founder Sam Bankman-Fried is incarcerated in the Bahamas.

Also read: Banks In New York Must Get Regulatory Nod Before Becoming Involved In Cryptos

Tremendous Response To Join Committee

U.S. Trustee Juliet Sarkessian said before a bankruptcy court in Delaware on Wednesday that a request to join the committee received "a tremendous response," despite the challenges of assembling a group of experts from different parts of the world.

The Department of Justice employee in charge of overseeing the bankruptcy procedure added, "We are moving as expeditiously as possible" to establish the committee.

The committee will also include hedge fund Coincident Capital, GGC International, and Hong Kong's Pulsar Global, according to the filing.

Committee To Represent Unsecured Creditors

It will oversee representing those who are hoping to be reimbursed at the conclusion of bankruptcy proceedings, specifically the unsecured creditors who have no claim on FTX collateral.

A contentious request to omit personally identifying information from a full, potentially lengthy list of creditors will be heard by the Delaware court on Friday.

Next: G20 Seeks To Create A Consensus On Policies Regarding Digital Assets, Says India's Economic Affairs Secretary

Photo via Shutterstock. 

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