New York Times, FT, Bloomberg Blamed for Trying to Get FTX Creditors’ Names Unsealed
Court documents show that media companies such as Bloomberg, Dow Jones & Company, Dow Jones & Company and the Financial Times (FT), want the redacted information about FTX creditors to be unsealed amid ongoing FTX bankruptcy proceedings. According to the media companies, the creditors’ information should be made public. The publications stated in court filings that the media media “acts as the eyes and ears for the public.”
So-Called Media Intervenors’ Insist on the Court to Unseal FTX’s creditor Information
Four major news media outlets filed a document in connection to the Chapter 11 bankruptcy case. It was related to the now-defunct FTX cryptocurrency trading platform. The publications are called “media intervenors” and object to the continual sealing and redaction information that has historically been quintessentially open in nature.
The “media intervenors” refer to a specific rule that allows “any interested entity” (with respect to any matter) to intervene in bankruptcy matters.
The news media is the eyes and ears for the public, informing them about the most pressing issues. This vital social function is hindered by the sealing of judicial records.
Despite the debtor’s objections that the customer list be kept confidential and the reasoning that the disclosure of the debtors’ customer list could cause harm, the “media intervenors,” or “media intervenors”, call these arguments “vague statements” and “do not appear satisfy the evidentiary burden.”
Redaction of contact information may be justified in certain circumstances to prevent identity theft or harassment. However, releasing names of creditors does not expose creditors to identity theft or personal danger. It does not pose an unreasonable risk of injury.
In the court filing, media companies also highlight the Celsius bankruptcy case. The bankruptcy court published 14,000 pages of trade histories and usernames for Celsius customers in that case. It caused quite a lot of public outcry after the court published 14,000 pages of Celsius customer usernames and trade histories. One person wrote that the Celsius dox was “one of the most egregious privacy violations crypto history has ever seen.” The news also follows the public denouncing mainstream media publications for doxxing people on multiple occasions.
Dorian Nakamoto to Libs of Tiktok: Media Doxxing moves beyond internet culture and becomes the industry’s preferred tool
Taylor Lorenz, a Washington Post reporter, was criticized in April for allegedly doxxing the Libs of Tiktok founder. Four years ago, mainstream media outlets like the NYT stated that doxxing had become “a mainstream tool” in the culture wars. The report also notes that “identifying extremists and revealing their personal data has become a bit more of a game on the internet.”
The establishment’s media have been accused of using the doxxing tool to generate clicks, publicity and notoriety for years. Leah McGrath Goodman, a columnist for Newsweek, published a March 2014 report that didxx Dorian Nakamoto’s California home. It was discovered that Dorian wasn’t Satoshi Nakamoto, and he claimed the reporter treated him unfairly.
Redditors on the forum r/cryptocurrency criticized Bloomberg, FT and NYT for trying to dox customers of the collapsed exchange. Redditors also discussed how a number publications, including the New York Times, published puff pieces about FTX cofounder Sam Bankman-Fried.
“Never expected anything worse from the media. One person wrote that it’s all about the money and zero about the truth. “Sadly, they are still trusted by many,” another person said.
Mainstream media are actors.
Despite the recent public outcry about the Celsius dox and the media intervenors, they don’t mention that part of this story, even though it was clear that the public was not happy with the bankruptcy court’s decision.
“Redacting names of creditors will have far-reaching effects as the case proceeds,” media publications note in the FTX bankruptcy court filing. The filing concludes that “This court has routinely allowed debtors in Chapter 11 cases to file confidentially under seal,”
What do you think of Bloomberg, FT and NYT trying to redact FTX’s creditors list? Please comment below to let us know your thoughts on this topic.