The court-appointed examiner, Robert J. Cleary, has recommended further investigations into the collapsed FTX Group, focusing on FTX.US's asset management practices and legal representation by Sullivan & Cromwell (S&C). Cleary's report highlights concerns over balance sheet shortfalls and possible misuse of funds. Additionally, investigations are suggested into the pre-bankruptcy sale of Ledger Holdings Inc. and S&C's representation of FTX, particularly during Sam Bankman-Fried's purchase of Robinhood shares. The report raises questions about conflicts of interest and potential legal implications. S&C's billing practices and allegations of aiding FTX's wrongdoing have sparked controversy. The article also touches on recent developments in the crypto industry, such as Ethereum's ETF approval and the implications of SAB 121's repeal. Readers are advised to conduct their own research before engaging in cryptocurrency trading. Read more AI-generated news on: https://app.chaingpt.org/news