FTX Collapse: Appointment of Independent Investigator Referred to U.S. Third Circuit Court of Appeals

05/30 15:50

A Delaware District Judge has referred the appointment of an independent investigator into the collapse of crypto exchange FTX to the U.S. Third Circuit Court of Appeals. Despite warnings from FTX's new management that the probe could cost the estate around $100 million in legal costs, the government has joined a bipartisan grouping of Senators to call for an independent inquiry into the fall of Sam Bankman-Fried's empire. District Judge Colm F. Connolly argued that the matter was out of his hands and that the law compels him to refer the case upwards if the U.S. Trustee asks for it and if there's no dispute over facts.

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