{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Scoop","title":"FTX's demise part 4: Bankruptcy experts weigh in on next steps for FTX","html":"","width":"100%","height":180,"duration":3614,"description":"In the fourth installment of The Scoop’s continued coverage of FTX's demise, host Frank Chaparro examines the legal underpinnings of FTX’s bankruptcy and restructuring process with Dan Besikof, a partner at the law firm Loeb & Loeb, and Mark Shapiro, Chair of the Financial Restructuring Group and a partner at the law firm of Shearman & Sterling. In 2008, Shapiro served as the Head of Restructuring for Lehman Brothers, where he guided the sale of the firm's U.S. assets in chapter 11.\nAccording to Besikof, FTX’s fiduciary will likely attempt to bring money back into the estate through lawsuits:\n“One of the things that they're going to look at is where did money go out where value didn't come back, and to the extent money went out and value didn't come back, that's a natural target for a fraudulent conveyance lawsuit or a fraudulent transfer lawsuit.”\nFTX has notified a federal judge it wants BitGo to custody its $740 million worth of digital assets.\nWhile the exact situation of FTX’s finances is still uncertain, Shapiro says the sheer amount of money lost by FTX users is likely to prompt regulators to take a more proactive approach going forward:\n“Now that it's become so public and so much money has been lost, I think the paternalistic side of the government is going to take over and try to do something about protecting investors.”\nEpisode 118 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, Dan Besikof, a Partner at Loeb & Loeb, and Mark Shapiro, a Partner at Shearman & Sterling.\nListen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to podcast@theblockcrypto.com.\nThis episode is brought to you by our sponsors Tron, Ledn\nAbout Tron\nFounded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global...","thumbnail_url":"https://img.transistorcdn.com/kC6kzNjgr18dm0FmBfV_f9xccAkjj-QXoCJmVNlNtrU/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8xZmIz/N2E5MmRmMzJjOTU3/OTNhYjJkYzcxZTlj/MTU2Yi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}