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FTX Bankruptcy Managers Hire Forensic Investigators AlixPartners: WSJ

The team, led by former SEC accountant Matt Jacques, is tasked with tracking the billions of dollars missing from FTX.

By Ian Allison
AccessTimeIconDec 8, 2022 at 3:23 p.m. UTC
Updated May 9, 2023 at 4:04 a.m. UTC
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The new management at bankrupt cryptocurrency exchange FTX has hired forensic investigators from consultancy AlixPartners to trace billions of dollars that have gone missing, the Wall Street Journal reported.

The AlixPartners team will be led by Matt Jacques, a former chief accountant for the Securities and Exchange Commission's enforcement division, the Journal reported Wednesday.

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    • John Ray III, a restructuring expert who oversaw the Enron Corp. bankruptcy, took over as CEO when FTX filed for bankruptcy protection last month. Jacques’ team is tasked with tracking the funds that went missing from FTX as the firm cratered amid a liquidity freeze.

    AlixPartners was hired by the U.S. Securities Investor Protection Corp. to help recover funds stolen in the Bernie Madoff case, the investigative firm’s website states.

    AlixPartners declined to comment. FTX didn't immediately respond to requests for comment.

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    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Ian Allison
    Ian Allison

    Ian Allison is an award-winning senior reporter at CoinDesk. He holds ETH.

    Follow @IanAllison123 on Twitter

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