FTX CEO John Ray III Dec. 13 testimony to the U.S. Congress revealed that the bankrupt exchange commingled assets and stored wallets’ private keys without encryption. According to Ray, FTX’s collapse ...
Tag: Unsophisticated
Bankruptcy Lawyers Say FTX Was Operated by ‘Inexperienced and Unsophisticated Individuals’ – Bitcoin News
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 ...
FTX Run by ‘Inexperienced, Unsophisticated’ Traders, Court Hears
Lawyers managing the FTX bankruptcy likened the firm to a “personal fiefdom” of former CEO Sam Bankman-Fried in Delaware court on Tuesday. In the first hearing of what’s set to be a sprawling case, la...