FTX's absence of information
Beleaguered crypto exchange FTX had its first day in bankruptcy court on Tuesday and, despite the numerous filings and news stories about the company, it is an absence of clear information that may come to define this case.
Why it matters: That lack of information will not make this a short and easy case for creditors seeking relief, or for investigators considering a criminal probe into the company and its founder, Sam Bankman-Fried.
What they're saying: “Substantial progress has been made, but we stand here today, your honor, with an absence of information,” FTX's Legal representation James Bromley told Judge Dorsey Tuesday. “We do not have the traditional amount of information that a debtor would traditionally have."