U.S. bankruptcy trustee opposes FTX plan to sell LedgerX and other subsidiaries

The company has previously said it plans to sell its LedgerX, FTX Japan and FTX Europe businesses. In his filing, federal bankruptcy regulators asked for an investigation to determine whether they obtained information related to FTX's bankruptcy proceedings before selling the units. As a U.S. trustee, Vara is part of the Department of Justice, which oversees U.S. bankruptcy proceedings and has the responsibility to ensure that bankrupt entities do not engage in activities that would be detrimental to creditors or other stakeholders in the case.