New FTX CEO slams 'complete failure of corporate controls'
John Ray, the man who took over at Enron after its collapse and is now in charge of FTX has blasted his predecessor at the failed crypto exchange, Sam Bankman-Fried, declaring in court filings that he has never "seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information".
New FTX CEO Reveals The Company Had No Board Of Directors Or Accounting Department
At a House Financial Services Committee hearing earlier this month, Rep. Tom Emmer (R-MN) questioned CEO John J. Ray III about the collapse of FTX.
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FTX CEO on Collapse
FTX CEO John Ray: “The FTX group’s collapse appears to stem from absolute concentration of control in the hands of a small group of grossly inexperienced and unsophisticated individuals.”
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FTX CEO John Ray: ‘This is really old fashion embezzlement’
FTX’s new CEO John Ray speaks to congress on the nature of FTX’s customer service. Ray testified on December 13, 2022.
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New FTX CEO Calls Management ‘Complete Failure’
Ether Capital CEO Brian Mosoff joins Caroline Hyde and Sonali Basak to discuss the impact of the FTX empire’s collapse on crypto, on staking, and regulation.
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