FTX may have more than 1 million creditors, according to a court filing that finally began to explain the company's descent into bankruptcy.

The document, filed to the federal court database system PACER late Monday, provided the first true glimpse of the crypto exchange's last day prior to filing for bankruptcy and its first few days going through the process. FTX's new CEO, veteran insolvency overseer John J. Ray III, is working with legal, cybersecurity and forensic advisers on the company's myriad subsidiaries and their respective bankruptcy processes, the filing said.

(By Nikhilesh De)