FTX claims there may be over one million creditors, proposing joint management of the entire umbrella group.

According to a report by CoinDesk, based on a court document filed with the federal court database system PACER on Monday, FTX's newly appointed CEO John Jay Ray III is collaborating with legal, cybersecurity, and compliance advisors on the bankruptcy proceedings of the company's numerous subsidiaries. FTX has filed over 100 petitions for various affiliated companies, including quantitative trading firm Alameda Research, which holds a significant amount of FTT tokens, U.S. business entity West Realm Shires operating under the FTX name in certain jurisdictions, and Clifton Bay Investments.

According to a report by CoinDesk, a court document filed with the federal court database system PACER on Monday reveals that FTX's new CEO, John Jay Ray III, is collaborating with legal, cybersecurity, and legal advisors on the bankruptcy proceedings of the company's numerous subsidiaries. FTX has filed over 100 submissions for affiliated companies, including the quantitative trading firm Alameda Research, which holds a significant amount of FTT tokens, the U.S. entity West Realm Shires operating under the FTX name in certain jurisdictions, and Clifton Bay Investments.

As part of these filings, FTX has proposed to jointly administer the entire umbrella entity group instead of treating each entity as a separate case. FTX has also inquired about creating a list of the top 50 creditors for the overall structure rather than the top 20 creditors for each company. Additionally, FTX believes it may have over one million creditors.

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