"Appeals Court Orders Independent Examiner in FTX Bankruptcy Case"

A federal appeals court has ordered the appointment of an independent examiner in the bankruptcy case of FTX, a multibillion-dollar cryptocurrency exchange, amid concerns about widespread fraud preceding its collapse. The court reversed a previous ruling and agreed with the U.S. bankruptcy trustee that an examiner should be appointed to review FTX’s financial affairs and business operations, including allegations of unprecedented fraud. The ruling comes as FTX co-founder Sam Bankman-Fried awaits sentencing after being convicted on wire-fraud and conspiracy charges, with several other former FTX executives also pleading guilty to similar charges.