FTX Collapse: Founder Bankman-Fried and Co Are “Potentially Compromised”

Published by
The Street

By Luc Olinga John Ray, the new CEO in charge of restructuring the cryptocurrency exchange, makes a scathing indictment of the Bankman-Fried years. FTX’s overnight implosion caused an earthquake that the business community is trying to figure out by putting the different pieces of the puzzle together. John Ray, a veteran of restructurings, was appointed CEO of the bankrupt cryptocurrency exchange on November 11 to carry out its restructuring. Ray, who notably led the liquidation of the energy broker Enron, has just made his first statement to the court. And this statement is a scathing indictm…

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