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,
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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Source: Cryptocurrency - investing.com
