Free Republic

Plans for FTX and creditors to demand information on dealings would duplicate the work of the independent examiner who has yet to be appointed, the U.S. trustee said. Proposals for FTX and a committee of its creditors to subpoena founder Sam Bankman-Fried, his immediate family and senior staff of the bankrupt crypto exchange have been opposed by the U.S. Trustee, a branch of the Department of Justice dealing with bankruptcy. The plans, set to be discussed at a Wednesday hearing, would duplicate any independent examination of the exchange’s downfall, U.S. Trustee Andrew Vara said in a legal filing made Thursday....

Despite Sam Bankman-Fried being a no-show — he’s busy fighting extradition to the United States after being criminally charged with fraud — there still were some fireworks at today’s FTX hearing in front of the House Financial Services Committee. You’re pretty much guaranteed a fun sound bite — or whacky video clip — when Maxine Waters, outgoing chair of the committee, is involved and today was no different. Current FTX CEO, John Ray, who’s trying to clean up the mess left behind by SBF, did appear before the committee today and testified that “FTX commingled customer funds with the FTX...

NATO defence ministers met today to discuss the recent wave of Russian missile strikes on Ukraine, and how to continue providing help. But Russia itself is turning out to be an unexpected source of military hardware. As Russian troops retreated, recently, they abandoned huge amounts of equipment, including battle tanks. And as our correspondent John Ray reports, it's all being salvaged and put to good use.

Excerpt - Speaking by telephone from the back of the police van as he was driven away, Ray said: "I have been roughed up. They dragged me, pulled me and knocked me to the ground. Now they are filming me." He could then be heard asking the officers with him: "Why are you filming? I am a British journalist. I have all the Olympic accreditation I need." Police officers could then be heard asking: "What's your opinion on Tibet?" Ray replied: "I have no opinion on Tibet. I am a journalist." A police officer could then be heard telling him...