Independent Bankruptcy Investigation for FTX Under Review

A US bankruptcy judge is considering the approval of an independent investigation into the FTX collapse.

FTX, once considered a trustworthy platform, collapsed after it was revealed that its CEO was using customer funds inappropriately.

Crypto exchange FTX objects to the appointment of an independent examiner, stating that it would only duplicate work already being done by the company, creditors, and law enforcement agencies.

FTX creditors’ committee does not support the investigation, while state securities regulators in Texas, Vermont, and Wisconsin support it.

Additionally, FTX is requesting a refund from former donors and is reportedly frustrated by the attention its situation is receiving.