FTX's new chief executive told a bankruptcy court Monday there is 'a danger' to authorizing an independent investigation of the crypto exchange's collapse.
The logo of FTX is seen at the entrance of the FTX Arena in Miami, Nov. 12, 2022.FTX's new chief executive told a bankruptcy court Monday there is "a danger" to authorizing an independent investigation ofJohn Ray said he had no use for prior court-supervised investigations into other companies he steered through bankruptcy.
The Enron investigation cost $90 million and the Residential Capital investigation cost $100 million, Ray said, adding that neither was helpful. Ray's testimony came as the judge considered whether to appoint an examiner in the FTX collapse as requested by the Justice Department. Dorsey later said he'd take under advisement a request to appoint an examiner to investigate the collapse of FTX while the parties try to resolve their differences.pleaded not guilty to eight criminal chargesRay testified that FTX has furnished 70,000 documents to federal prosecutors, who have asked 156 times for information.
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