New York | Four US senators have questioned whether top Wall Street law firm Sullivan & Cromwell could properly investigate possible wrongdoing at FTX as its bankruptcy counsel given its past work for the cryptocurrency exchange.

The bipartisan group of senators said Sullivan & Cromwell’s legal work for FTX before it filed for bankruptcy meant it should not now be entrusted with scrutinising the events leading up to the collapse of Sam Bankman-Fried’s crypto empire, which includes accusations of fraud and misappropriation of customer money.

Financial Times