- The US Department of Justice is seeking an independent investigation of the bankrupt FTX.
- FTX’s new CEO John Ray says he wishes to recover customer assets as a priority.
- DOJ shared it can provide more public conclusions with an independent review.
US bankruptcy watchdog, the Department of Justice has called for an independent investigation of the collapsed cryptocurrency exchange FTX, on the grounds of delivering customers a neutral party review of the “fraud, dishonesty, incompetence, misconduct, and mismanagement” allegations on December 1.
FTX founder Sam Bankman-Fried hired new CEO John Ray who promised to focus on driving the company out of bankruptcy while investigating the exchange to recover user assets.
Meanwhile, the US Trustee’s Department of Justice office during a Delaware bankruptcy court filing confirmed that the independent investigation is not a blow to Ray’s competency, instead is being conducted with the intention to enable more energy for him to steady FTX’s ongoing chaos.
U.S. Trustee Andrew Vara stated in court documents,
The questions at stake here are simply too large and too important to be left to an internal investigation
Vara further added that a neutral examiner would allow additional public and transparent findings in comparison to private analysis which is signific ...
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