Fallen FTX Misused Customers’ Money

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The Street

By Luc Olinga John Ray, the new CEO in charge of the restructuring, confirmed the existence of a software which made it possible to hide illicit practices. Six days after cryptocurrency exchange FTX filed for bankruptcy, the secrets of the company, which was still worth $32 billion in February, are beginning to come to light. John Ray, the new CEO in charge of restructuring, has just made an indictment of the Sam Bankman-Fried years. Bankman-Fried, 30, founded the company with two associates — Zixiao “Gary” Wang and Nishad Singh. FTX started operating in May 2019. Ray said that the three exec…

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