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<h2 id="header-0">On Dec 14, the US Department of Justice&#39;s bankruptcy watchdog established a committee to represent FTX accountholders and other junior creditors in the FTX bankruptcy case.</h2>The committee will represent the interests of all unsecured creditors, who are among the last to be paid in a conventional bankruptcy. It will also include a mix of individual account holders, investment funds, and an affiliate of US crypto firm Genesis.The 9-member committee includes three individual creditors, Genesis affiliate GGC International Ltd, crypto trader Wintermute Asia PTE, Coincident Capital International, Pulsar Global Ltd, Octopus Information Ltd, and Wincent Investment Fund.<a href="https://www.coingabbar.com/en/crypto-currency-news/ftx-exchange-declares-bankruptcy" rel="noopener noreferrer nofollow">FTX filed for bankruptcy</a> in Delaware in November after traders withdrew $6 billion from the platform in three days and rival exchange Binance abandoned a rescue arrangement. The collapse has left an estimated 1 million creditors facing billions of dollars in losses.Crypto firms that went bankrupt earlier this year, such as Voyager Digital and Celsius Network, listed the majority of their customers as unsecured, particularly those with interest-bearing accounts.Unsecured debts, such as credit cards or medical bills, do not confer explicit collateral rights on lenders. Secured debt, such as a mortgage or vehicle loan, is secured by particular collateral that a lender may claim if the debt is not paid.US Bankruptcy Judge John Dorsey, who is monitoring FTX&#39;s Chapter 11 case, stated during a court hearing on Wednesday that he expected the creditors&#39; committee to weigh in on user privacy issues during a hearing scheduled for early January.FTX has maintained that customer names should be kept private in order to protect them from fraud and to maintain the business value of FTX&#39;s customer list for possible buyers.In most bankruptcy proceedings, creditor names, contact information, and the amount owing is classified as public information, and both the <a href="https://www.coingabbar.com/en/crypto-currency-news/us-doj-probing-ftxs-ceo-for-allegedly-siphoning-funds-out-of-the-us-report" rel="noopener noreferrer nofollow">Justice Department</a> and a collection of media groups have attempted to prevent FTX from deviating too far from bankruptcy&#39;s transparency obligations.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news/mithril-demands-bnb-refund-from-binance" rel="noopener noreferrer nofollow">Mithril demands BNB refund from Binance</a>

US DOJ Appoints a Committee of Unsecured Creditors to Represent FTX

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