The new head of the FTX crypto exchange called the reasons for its bankruptcy
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The reasons for the bankruptcy of one of the largest crypto exchanges – FTX – were inefficient management and inexperienced leaders. This statement was made by the new CEO of the site, John Ray, during a hearing in the Committee on Financial Services of the House of Representatives of the US Congress, writes TASS. Photo: pixabay.com Formerly the founder and former head of the exchange, Sam Bankman-Fried, was arrested in the Bahamas. He was charged with defrauding investors. In his speech, Ray noted that control was in the hands of a small group of “extremely inexperienced and ignorant people.” He
Bankrupt crypto exchange FTX may resume work. The new CEO of the platform, John Ray, said in an interview with The Wall Street Journal that he admits such a possibility, writes RBC Crypto. When FTX collapsed in November 2022, triggering a collapse in the crypto market and a series of…
Solana – a crypto that’s otherwise known as SOL to its personal holders – continues to shed value given it’s so tied to the fallen crypto exchange FTX and its disgraced head executive Sam Bankman-Fried. Solana Isn’t Doing Too Well FTX is currently in the process of filing bankruptcy. Sam…
The FTX bankruptcy has led to various recovery proposals, including restarting the exchange or issuing new tokens to represent creditor claims. This summer decentralized platforms such as Found.xyz and Figure Markets were soon enabling the trade of these tokenized claims, which one crypto CEO described as one of the most…