New FTX CEO details 'complete failure of corporate controls' at crypto platform

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The new CEO and restructuring officer of FTX issued a searing indictment of the company’s operations in a court filing as part of the company’s ongoing bankruptcy process. “Never in my career have I seen such a complete failure of corporate controls.'

that two unnamed sources said more than $1 billion in client funds may be missing. NBC News has not verified those reports.Bankman-Fried and FTX did not immediately respond to requests for comment.

It has so far only secured $740 million of its cryptocurrency, “a fraction of the digital assets of the FTX Group that they hope to recover.” In part, he said, that’s because Bankman-Fried instituted a culture of not keeping communications records. But it’s also not clear who worked for the company and in what capacity, he said. “At this time, the Debtors have been unable to prepare a complete list ofworked for the FTX Group as of the Petition Date, or the terms of their employment. Repeated attempts to locate certain presumed employees to confirm their status have been unsuccessful to date.”

 

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Now the neo notsees want to deplatform Twitter. To them, hate speech is anything they don't agree with. If it bothers them, they want to ensure you notseeit.

Wait! Are you saying the tech 'geniuses' may not be so smart after all...?

Why isn’t this guy in jail? Oh, because he robbed the poors, not the rich.

NBC changing tunes. Finally unable to sidestep the fraud.

Bankruptcy is 's new term for fraud. But it's bankruptcy because the fraudulent criminals greased the right hands with cash-stuffed envelopes. Imagine if this dude was Russian. NBC would be calling for airstrikes on Bimini by now.

and the FBI protecting an embezzler

Thats because the whole operation was a scam. Ask all those who lost their money overnight.

He has the stolen funds hidden

Democrats must give back all their stolen money this guy scammed from our citizens 😎

It's FRAUD. How he isn't arrested just exemplifies how corrupt our 'democracy' really is.

Fraud given another name

Anyone remember ENRON ? Not the first time greed blurred vision…

POLL Who Do You Want For 2024? I Am Genuinely Curious.

And this dude was endlessly promoted by the media...

It’s almost as if it was criminal like behavior.

It wasn't corporate controls...pure fraud...why is this so hard to say?

Just another scamming leftist puke

Crypto is fake internet $. Worthless. This clown needs to be hauled back to the US & start answering questions. Sounds like a 50 year jail sentence is prudent.

It’s been interesting to watch MSM report on things they’ve been trying to bury but have been known by everyone not suckling at the leftist teet

crypto is like the wild west, and thats why the cryptobros love it, unfortunately it opens crypto up to these types of things. People are greedy and will always find a way to cheat the system

It was an unregulated Ponzi scheme. They have no corporate controls.

How many of you would knowingly put your life savings or a significant sum of money under the oversight of a 27 yo? His age when founding FTX. Greed is the number one cause of blindness - in healthcare or finance.

Good but it shouldn’t just stop at sound bytes ….Hope the next surprise is on campaign donations how much and to whom ..😀

They should send a new CEO to look at Gemini also, there’s malfeasance happening there as well

This is what happens when people treat crypto exchanges like banks. Bitcoin was created to displace the banks. Buy Bitcoin only, and get off the exchanges.

DiedSuddenly

Old news

Laundering money through Ukraine, DNC and our elections...

Seems the MILLIONS he donated to politicians (MILLIONS TO BIDEN!) before the midterms, might be something your network wants to delve into also. That money should be RETURNED TO THE INVESTORS that were harmed by his possible stealing through a Ponzi scheme.

NBC should pretend he’s a Republican and start smearing him and the folks he donated to the way they usually do. You know; do some ‘journalism’.

Meanwhile he's free

'It's always fun until someone gets hurt.'

Sam Bankman-Fried donated to the proper Democrat causes so they looked the other way. “They muddy the water, to make it seem deep. - Friedrich Nietzsche

This whole operation was never intended to last. It was planned as a ‘quick steal and disappear’!

Oy Vey!

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