DOJ Watchdog Calls for Independent FTX Probe in Bankruptcy

Dec 02,2022
KingData News: A U.S. Justice Department bankruptcy watchdog called for an independent investigation into FTX’s collapse, comparing the cryptocurrency platform’s sudden failure to the fall of Lehman Brothers. U.S. Trustee Andrew Vara, an official at the Justice Department unit monitoring bankruptcy courts, asked the judge overseeing FTX’s chapter 11 case to appoint an independent examiner to provide a transparent account of FTX’s failure because of the wider implications the exchange’s collapse has on the crypto industry.
A financial document disclosed in the media indicates that SBF's Alameda Research has a capital debt situation, with nearly half of its holdings related to FTT and Solana. On November 6, 2022, CZ stated that due to recent revelations, Binance will sell all FTT on its books. This indicator broadcasts updates on FTX-related events.
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