The new CEO of collapsed crypto exchange FTX, John Ray III, has filed an initial statement with the U.S. Bankruptcy Court for the District of Delaware, making a scathing judgment of Sam Bankman-Fried and his companies.
Ray was appointed CEO of FTX less than a week ago when founder Bankman-Fried filed for bankruptcy protection for FTX, Alameda and more than 130 related companies and stepped down as CEO.
The new CEO has taken the lead role in several of the largest corporate collapses in history, exposing criminal activity and malfeasance such as in the Enron case. So the man has experience with scandal and mismanagement. Yet, in his first court filing, he states:
Never in my career have I seen such a complete failure of