District judge rejects class action suit against FTX crypto exchange bankruptcy

The FTX exchange has recently come under fire from investors with several proposed class action lawsuits against the now-bankrupt crypto company. This attempted class action comes from investors who allege that FTX engaged in market manipulation, breached fiduciary duty and engaged in other wrongful conduct. Nevertheless, a federal judge refused to consolidate these class action lawsuits, saying that the exchange and its defendants have not yet had a chance to be heard. Why did the judge reject the class action against crypto exchange FTX? The judge’s decision is impactful because it means that each lawsuit will proceed on its own,