Judge denies FTX lawyers' motion to delay bankruptcy proceedings

Lawyers for bankrupt cryptocurrency exchange FTX have argued that a Delaware bankruptcy court will need to delay bankruptcy proceedings for "a month or two" in order to figure out exactly how FTX went bankrupt. Lawrence Gebhardt of Gebhardt and Smith, the law firm representing FTX in the ongoing bankruptcy case, asked the court to delay the proceedings because discovery of the circumstances of the case would be "expensive and require significant travel" because of the distribution of important parties to the case. all around the world. FTX's former lawyer Dan Friedberg, who is one of the defendants in the case, is in Washington; another former legal counsel, Can Sun, is in the Bahamas; and former SBF CEO, who was recently convicted of fraud, is serving a prison sentence, Gerbart said. Judge John Dorsey denied the motion, saying the delay was not necessary. (The Block)