DOJ seeks independent probe into FTX bankruptcy following allegations against ... trends now
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The U.S. Department of Justice's bankruptcy watchdog has called for an independent investigation into the collapse of crypto exchange FTX
The office has said customers need a neutral party to investigate allegations of 'fraud, dishonesty, incompetence, misconduct, and mismanagement' reportedly conducted by disgraced founder Sam Bankman-Fried and other managers.
Bankman-Fried admitted that he failed to properly manage 'risks' at the $32 billion crypto trading firm, which faces allegations of funneling $10 million to the founder's other crypto company, Alameda Research, run by his ex-girlfriend.
U.S. Trustee Andrew Vara, who serves as an official overseeing bankruptcy courts for the DOJ, called for the independent probe because of the massive scale of FTX's collapse and its impact on the crypto markets.
'The questions at stake here are simply too large and too important to be left
