New FTX CEO Says It’s Impossible to Recoup All Client Losses
- FTX US Customers Likely to Fare Better, Ray Testifies
- House committee is weighing crackdown on crypto industry
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The man currently running FTX has bad news for former customers: many of you won’t get back funds lost following the company’s spiral into bankruptcy.
“At the end of the day, we’re not going to be able to recover all of the losses here,” said John J. Ray III, who’s handling FTX’s restructuring and was the sole witness at a Tuesday hearing before the House Financial Services Committee.