In a new document filed with a U.S. bankruptcy court on Thursday, FTX’s new CEO, John Jay Ray III, slammed the company’s “complete failure of corporate controls.” “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray wrote in the filing, the same lawyer who was in charge of winding down Enron in 2002. The seasoned bankruptcy chief was appointed at FTX’s Chapter 11 filing last Friday and said FTX saw at least $372 million in “unauthorised transactions” just hours into his position as the platform’s new CEO. Chainalysis, a blockchain analytics company, has since been hired by the FTX for the case.
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