US Official Objected to FTX’s Asset Sale


A US official has objected to the asset-selling plans of bankrupt crypto exchange FTX.

FTX filed for bankruptcy protection in November of 2022 and last month LedgerX, Embed, FTX Japanand FTX Europe He said he plans to sell his business. Last Tuesday, FTX founder Sam Bankman-Fried denied accusations that he deceived investors and caused billions of dollars in losses in what prosecutors call an epic scam. The US continues to grapple with both former and new executives of the collapsing crypto exchange.

US Official Opposes Selling FTX Assets

A US official on Saturday contested FTX’s plans to sell its digital currency futures and clearinghouse LedgerX, as well as its units in Japan and Europe, according to a court filing.

US Trustee Andrew Vara The application called for an independent investigation prior to the sale of the units, arguing that the companies may have information about FTX’s bankruptcy. The appeal file includes:

“Sales of potentially valuable causes of action against debtors’ directors, officers and employees, or any other person or entity; should not be allowed until a full and independent investigation has been made of any person or entity that may have been involved in any misconduct, negligence or other actionable act.”

FTX said in a court filing last month that the companies it plans to sell are relatively independent of the broader FTX group, and each has its own separate client accounts and separate management teams.


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