Currently, the FTX bankruptcy judge is hopeful that the issue will be resolved through a mutually agreed solution between both parties.
, FTX’s new CEO, estimated that expenses could reach between $90 million and $100 million. James Bromley of Sullivan & Cromwell said, “It’s just going to result in duplicated effort and a significant amount of expense. We don’t have enough money to pay back all of our creditors.”
Bromley maintained that there is “no evidence” that any outside professionals would be more impartial than FTX’s current experts. FTX debtors have a number of experts working on the case including the cybersecurity firm Sygnia. FTX’s executives and legal teams are collaborating with criminal investigators and top government regulators.
Ray, FTX’s new CEO, earned roughly $690,000 for his work last year and continued to work during Christmas and the holiday season. Juliet Sarkessian, representing the U.S. Trustee, characterized the FTX situation as a “dumpster fire” and emphasized that the appointment of an examiner was mandated by Congress in these circumstances.
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