{"id":16340,"date":"2023-05-31T15:28:34","date_gmt":"2023-05-31T19:28:34","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/crypto\/us-governments-push-for-ftx-inquiry-reaches-court-of-appeals-heres-the-latest\/"},"modified":"2023-05-31T15:28:35","modified_gmt":"2023-05-31T19:28:35","slug":"us-governments-push-for-ftx-inquiry-reaches-court-of-appeals-heres-the-latest","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=16340","title":{"rendered":"US Government’s Push for FTX Inquiry Reaches Court of Appeals \u2013 Here’s the Latest"},"content":{"rendered":"
\n

The US Government\u2019s push for an independent inquiry of the now-bankrupt crypto exchange FTX was on Tuesday referred to the U.S. Third Circuit Court of Appeals.<\/p>\n

The ruling, made by Delaware District Judge Colm F. Connolly, argued that the question of whether the case should be referred to the appeals court was not up to the judge to decide.<\/p>\n

This is true as long as the U.S. Trustee \u2013 a branch of the Department of Justice (DOJ) \u2013 has asked for it, and there is no \u201cquestion of fact\u201d involved, the ruling said.<\/p>\n

In this case, \u201cthe facts are not in dispute,\u201d Judge Connolly further wrote, noting that \u201cNo one contests that the Trustee requested an examiner here [\u2026].\u201d<\/p>\n

\u201cAccordingly, I have no choice but to grant the Trustee’s motion,\u201d the judge added.<\/p>\n

The government\u2019s push comes after a group of both Democratic and Republican Senators in January called for an inquiry into FTX\u2019s bankruptcy, arguing that a \u201cthorough, objective investigation of the activities that led to the collapse of FTX\u201d was needed.<\/p>\n

The call for an inquiry into the FTX collapse was made despite warnings from the new FTX management that such an investigation could cost the bankruptcy estate as much as $100 million in legal fees.<\/p>\n

It also comes despite the fact that bankruptcy judge John Dorsey in March declined to appoint an examiner for the inquiry on the grounds that it would be too expensive and time-consuming.<\/p>\n

FTX filed for bankruptcy in November of 2022, and the exchange\u2019s CEO, Sam Bankman-Fried, was arrested in December.<\/p>\n

The former exchange CEO could\u00a0face over 100 years in prison\u00a0if convicted on all charges against him.<\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The US Government\u2019s push for an independent inquiry of the now-bankrupt crypto exchange FTX was on Tuesday referred to the U.S. Third Circuit Court of Appeals. The ruling, made by Delaware District Judge Colm F. Connolly, argued that the question of whether the case should be referred to the appeals court was not up to […]<\/p>\n","protected":false},"author":1,"featured_media":16341,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[243],"tags":[83],"class_list":["post-16340","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","tag-featured"],"yoast_head":"\nUS Government's Push for FTX Inquiry Reaches Court of Appeals \u2013 Here's the Latest | iFintechWorld<\/title>\n<meta name=\"description\" content=\"The US Government\u2019s push for an independent inquiry of the now-bankrupt crypto exchange FTX was on Tuesday referred to the U.S. Third Circuit Court of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=16340\" \/>\n<meta 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