The financial regulatory authority for Germany, BaFin, has toughened warnings about consumers potentially losing all their crypto investments, unlike holdings with regulated banks.
If Alex Mashinsky was “being transparent,” there would be “no need to pull in an independent examiner," said Sasha Hodder, founder of Hodder Law Firm, on CoinDesk TV's "First Mover."
The chief financial officer said during a bankruptcy hearing the company will receive additional funds via maturing loans, and sales and use tax savings.
Some of the highest-profile and controversial bankruptcies in history, including Enron's and Lehman Brothers', have included the appointment of an independent examiner.