Independent Examiner – DIGIT INFO

FTX Bankruptcy Judge Denies US Trustee’s Request for Independent Examiner

DIGIT — Wed, 15 Feb 2023 23:00:18 +0000

The judge presiding over the FTX bankruptcy case has denied the U.S. Trustee’s request to appoint an independent examiner for the ongoing proceedings. The decision comes after judge John Dorsey postponed the ruling last week, citing concerns that the examiner could cost creditors tens of millions of dollars. The U.S. Trustee’s Argument for an Independent […]

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FTX Bankruptcy: Judge Delays Decision on Appointing Independent Examiner Amid Cost Concerns

DIGIT — Tue, 07 Feb 2023 20:35:10 +0000

Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is hopeful that the issue will be resolved through a mutually agreed upon solution between […]

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DOJ-Appointed US Trustee Objects to Subpoena Request in FTX Bankruptcy Case

DIGIT — Fri, 03 Feb 2023 21:20:02 +0000

Following a request from FTX lawyers to subpoena FTX co-founder Sam Bankman-Fried (SBF) and members of his family, the U.S. Trustee appointed by the Department of Justice has filed an opposition to the request. The U.S. Trustee explained that the motion would duplicate the efforts of the federally appointed independent examiner. U.S. Trustee Argues for […]

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FTX lawyers: Examiner could cost $100M and ‘provide no benefit’

DIGIT — Thu, 26 Jan 2023 05:19:47 +0000

FTX lawyers, joint provisional liquidators of FTX.US and the Bahamas and a committee of creditors have all opposed the appointment of an independent examiner.

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Coinbase Agrees to $100 Million Settlement With New York Financial Regulator for Anti-Money Laundering Violations

DIGIT — Wed, 04 Jan 2023 20:30:13 +0000

Coinbase has agreed to pay a $100 million settlement with the New York Department of Financial Services (NYDFS), according to a consent order signed by the NYDFS superintendent Adrienne Harris on Jan. 4, 2023. New York’s financial regulator said compliance problems were detected and the exchange’s anti-money laundering controls were inadequate from 2020 through 2021. […]

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US Trustee Plans to Appoint an Examiner to FTX Case, While SBF Describes Strange Margin Trading Practices

DIGIT — Fri, 02 Dec 2022 15:00:06 +0000

On Dec. 1, 2022, an attorney for the U.S. Trustee submitted a written letter to Delaware bankruptcy court officials that seeks to establish an independent examiner to investigate the FTX Chapter 11 bankruptcy proceedings. The U.S. Trustee explained in the letter that FTX’s collapse was comparable to complex bankruptcy cases like Lehman’s, Washington Mutual Bank’s, […]

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Celsius had ‘insufficient’ accounting and operational controls, says examiner

DIGIT — Mon, 21 Nov 2022 03:56:03 +0000

The examiner revealed that Celsius’ digital assets in its customer’s Custody wallets account officially became underfunded on Jun. 11.

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