Today's FTX Bankruptcy Filing Is So Worth the Time to Read It
New CEO John Ray describes the company’s poor record keeping and his difficulty locating cash and crypto.
This article is for subscribers only.
Lawyers for the failed crypto exchange FTX Group filed an update as part of its bankruptcy proceedings today, and it's a doozy.
The sworn declaration from John Ray, the new CEO and chief restructuring officer who oversaw the liquidation of Enron Corp., in an amazing read. He writes that advisers are struggling to locate the company’s cash and crypto and that record keeping was poor.