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John Ray, who took over as FTX CEO in November 2022, suggested Nishad Singh’s cooperation in the firm’s bankruptcy would be “important to maximize recovery” for creditors. Go to Source
The SEC alleges that Prager Metis, an accounting firm engaged by bankrupt crypto exchange FTX in 2021, committed hundreds of violations related to auditor independence. Go to Source
Lawyers representing SBF have agreed to a gag order preventing him from making comments that could sway his criminal trial but says it should apply to other witnesses too. Go to Source Powered by WPeMatico
Thousands in grants were given out by former FTX executives for niche projects, according to a report by FTX restructuring chief John Ray. Go to Source Powered by WPeMatico
FTX Debtors said on April 9 that it had released a report that “identifies and discusses control failures” by Sam Bankman-Fried and his colleagues when they ran the collapsed cryptocurrency exchange. John Ray, the CEO of the FTX Debtors, said the FTX Group “was tightly controlled by a small group of individuals who falsely claimed … Read more
FTX lawyers, joint provisional liquidators of FTX.US and the Bahamas and a committee of creditors have all opposed the appointment of an independent examiner. Go to Source Powered by WPeMatico
Crypto industry observers have questioned whether customers or investors will ever want to “come near” FTX again. Go to Source Powered by WPeMatico
FTX Trading, doing business as FTX.com, was one of roughly 130 companies under FTX Group that filed for bankruptcy following the firm’s reported liquidity crunch in November. Go to Source Powered by WPeMatico
The Securities Commission of the Bahamas has disputed FTX’s claim that the value of the cryptocurrencies it seized from the bankrupt crypto exchange was not $3.5 billion. The new FTX chief’s “continued lack of diligence when making public statements concerning the Commission is disappointing,” the Bahamian regulator stressed. Bahamas Regulator and FTX Disagree on the … Read more
On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that FTX executives left the lawyers James Bromley and Sullivan Cromwell with limited information. Bromley further likened the former FTX CEO Sam Bankman-Fried’s (SBF) crypto empire … Read more
