Stock Markets
FTX customer names will not be revealed by bankruptcy court
Bankrupt crypto exchange FTX received court permission on Friday to remove customer names from all filings in its bankruptcy case, persuading a U.S. judge that publishing the names would put people at risk of scams and identity theft.
U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, ruled that FTX can permanently redact the names of individual customers from its bankruptcy filings, after hearing testimony that publishing customers’ names would place them at risk even if other identifying information like their email address was kept secret.
“It is the customers who are the most important issue in this case,” Dorsey said. “We want to make sure that they are protected and they don’t fall victim to any types of scams.”
In January, Dorsey had allowed FTX to keep secret the names of 9 million of its individual customers for three months.
On Friday, Dorsey also authorized FTX to remove the names of companies and institutional investors from its customer lists on a temporary basis, saying FTX will have to make a new request in 90 days. Dorsey said those customers do not face the same risks as individuals, but their names could be valuable property if FTX decides to sell its crypto exchange business as a whole or sell its customer list separately.
Dorsey also addressed a longstanding dispute between FTX’s U.S. bankruptcy team and liquidators overseeing the wind-down of FTX’s Bahamian affiliate FTX Digital Markets, ordering the two sides to find a mediator and try to avoid inconsistent rulings in the separate court proceedings in the U.S. and Bahamas.
Dorsey denied the Bahamian liquidators’ request to begin litigation in Bahamas courts over assets held by the U.S. debtors. The judge said on Thursday that he would not defer to a Bahamian court’s ruling on which FTX company should control assets and take up responsibility for repaying customers, and he said on Friday that he would not expect a Bahamian court to follow his orders, either.
The whole situation cries out for more cooperation, Dorsey said, adding that he had been “lying in bed at 3 a.m. trying to figure out what to do with this mess.”
The Bahamian insolvency case began one day before FTX Trading and more than 100 affiliates in November filed for bankruptcy protection in Delaware to address claims that the company misused and lost billions of dollars worth of customers’ crypto deposits.
FTX founder Sam Bankman-Fried and several company insiders have been indicted on fraud charges for their role in the company’s collapse. Bankman-Fried is fighting the charges. Several other insiders have pleaded guilty and agreed to cooperate with prosecutors.
(Reuters) – An advanced U.S. military anti-missile system was used in Israel to try to intercept a projectile for the first time since President Joe Biden placed the system in Israel in October, a source familiar with the matter told Reuters on Friday.
The THAAD, or Terminal High Altitude Area Defense system, was used to try to intercept a projectile from Yemen sometime during the last 24 hours, and an analysis would determine its success, said the source who spoke on condition of anonymity.
The Pentagon did not immediately respond to a request for comment.
Israel struck multiple targets linked to the Iran-aligned Houthi movement in Yemen on Thursday, including Sanaa International Airport, and Houthi media said at least six people were killed.
Houthis have repeatedly fired drones and missiles towards Israel in what they describe as acts of solidarity with Palestinians in the Gaza Strip.
In October, Biden placed the THAAD system, built by Lockheed Martin (NYSE:), in Israel along with about 100 U.S. soldiers to help defend the country.
THAAD is a critical part of the U.S. military’s layered air defense systems and added to Israel’s already formidable anti-missile defenses.
(Reuters) – A bipartisan Senate Intelligence Committee report published on Friday criticized the CIA’s response to so-called Havana syndrome health problems among its workforce, saying many individuals “faced obstacles to timely and sufficient care.”
A declassified summary of the panel’s classified report also said the spy agency’s response “negatively affected” those who reported symptoms, leading to a “trust deficit” among some personnel.
While the CIA provided benefits and compensation to many of those reporting symptoms, the report said, the ease of accessing those programs has been inconsistent, affecting how the agency has been organized to deal with the matter.
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Following these transactions, Saba Capital now holds 4,057,625 shares of Pioneer Municipal High Income Fund, reflecting its continued confidence in the fund’s performance. The fund currently offers a 4.53% dividend yield and maintains a conservative beta of 0.67, indicating lower volatility compared to the broader market. This move underscores Saba Capital’s strategy to enhance its position in the municipal bond market through this investment. InvestingPro analysis reveals several additional key metrics and insights about MHI’s financial health and market position.
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