US Government Appeals Bankruptcy Judge's Judicial Decision Rejecting Appointment of FTX Independent Examiner

The U.S. government is appealing an earlier judicial decision by a bankruptcy judge to refuse to appoint an independent examiner in the FTX bankruptcy case, CoinDesk reported. The U.S. Trustee, a division of the U.S. Department of Justice (DOJ), has previously argued that bankruptcy law requires an independent investigation into any case of this size, although lawyers for FTX have previously said the investigation could cost as much as $100 million A bipartisan group of senators has also called for an independent investigation into whether those responsible for the mismanagement are still at the company. However, a Delaware bankruptcy judge rejected a motion to appoint an independent examiner to investigate FTX's bankruptcy, saying a costly independent investigation would delay the resolution of the case.