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No One Trusts the FTX Bankruptcy Case: News Outlets Intervene; Justice Department Trustee Demands Independent Examiner; SEC Orders Disclosures…

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For rather obvious reasons, the law firm Sullivan & Cromwell is suspect as it relates to managing FTX’s bankruptcy. Apparently the law firm poses several conflictual issues such as a former employee of the law firm became General Counsel for the crypto exchange not to mention another employee of the law firm represented FTX in the acquisition of another crypto firm…

FTX and the Curious History of Farmington State Bank…

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In late November, Protos began demystifying the mysterious ties of the bankrupt and fraud-riddled cryptocurrency exchange FTX to “a small bank in rural Washington,” known as Farmington State Bank. Given that it has only 3 employees and is one of the smallest banks in the entire United States, Protos noted that “the fact that [this bank] somehow finds itself embroiled in the largest cryptocurrency fraud in history is puzzling, disconcerting, and totally out of place, to say the least.”…

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