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FTX CEO John Ray’s Congressional Testimony Reveals SBF’s Poor Management

The United States House Committee on Financial Services heard the testimony of John Ray III, the man in charge of cleaning up the mess at the bankrupt crypto exchange FTX. As the new CEO and Chief Restructuring Officer, Ray has been going through the company’s records since 11 November. 

Right from the get-go, John Ray informed the U.S. Congress that he had never seen such an utter failure of corporate controls in his entire career. Coming from the man who was appointed to clean up the infamous Enron scandal, this statement shows the kind of management that took place under Sam Bankman-Fried. 

(By Suzuki Shillsalot)

Related News: 

Bahamian Securities Regulator Slams New FTX CEO Over ‘Misstatements’

SEC Charges FTX CEO SBF for Defrauding Investors a Day After His Arrest

FTX Token Slumps Into Abyss As Sam Bankman-Fried Gets Arrested

FTX's Bahamas Liquidators Seek to Exclude Over $200M Worth of Luxury Properties From Liquidation

US Government Files Charges Against Sam Bankman-Fried

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What Media Has Sam Bankman-Fried Invested in Other Than The Block? Here Is a List

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