Judge Dorsey of Bankruptcy Deemed the Bipartisan Letter “Inappropriate”

  • Judge John Dorsey of bankruptcy called the bipartisan letter “inappropriate.”
  • A bankruptcy lawyer revealed that FTX has recovered more than $5 billion in different assets.

According to reports, the bankruptcy court handling FTX’s case has rejected a letter signed by four US senators seeking an impartial examiner in the case. Concerns over FTX’s interconnection to Sullivan & Cromwell LLP were mentioned by the senators in a letter they sent on January 9th.

The letter defined by Judge John Dorsey of the U.S. Bankruptcy Court for the District of Delaware as “inappropriate” that he would not accept in his judgment.

John Dorsey, Delaware Judge  stated:

I will make my decisions on the matters referred to in the letter based only upon admissible evidence and the arguments of parties and interest presented in open court.

FTX Recovered More Than $5 Billion in Assets

During the hearing on Wednesday, a bankruptcy lawyer revealed that FTX has recovered more than $5 billion in different assets. In this not includes another $425 million in cryptocurrency held by the Securities Commission of the Bahamas. The names of creditors will remain to be kept private for at least three more months. This confirmed on Wednesday by the judge in the FTX bankruptcy.

In November, attorneys for FTX asserted that the list of creditors might not be genuine as a result of Sam Bankman-Fried and other FTX officials’ poor record-keeping. FTX, once the world’s greatest noticeable crypto exchange, collapsed spectacularly in November, having left nine million customers in the lurch and seeing co-founder Bankman-Fried indicted for fraud by US prosecutors. 

Journalism graduate who loves to write and Karate. And I love exploring new concepts and that brought me into the fascinating crypto and blockchain technology…