US trustee objects to FTX's planned sale of LedgerX and other units: Reuters
A U.S. trustee filed an objection to FTX's plan to sell the company's LedgerX as well as FTX units in Europe and Japan.FTX filed for bankruptcy protection in November, amid mounting debt from failed investments and alleged mismanagement of funds by senior executives.
The company had stated previously that it planned to sell its LedgerX, FTX Japan and FTX Europe businesses. However, U.S. Trustee Andrew Vara filed an objection to these sales on Jan. 7, according to Reuters. In his filing, the federal bankruptcy watchdog requested that an investigation be conducted prior to the sale of the units in order to ascertain whether they have access to information related to FTX's bankruptcy proceedings.
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