FTX US 'Was Not Independent' of Parent Company, New FTX CEO Will Say in House Testimony

John Ray III, who assumed leadership of the company last month hours before it filed for bankruptcy, will tell the House Financial Services Committee that his new team has so far secured over $1 billion in digital assets, though that's only a small portion of the billions it owes customers and other creditors.

"A substantial portion" of FTX's assets remain"missing, misappropriated or not readily available," the prepared testimony said, which also implied FTX's former leadership was not being helpful to the new leadership. For the first time, Ray provided some explanation as to why FTX US filed for bankruptcy alongside the rest of the company. Former FTX CEO Sam Bankman-Fried, who is also set to testify Tuesday,"Questions have been raised as to why all of the FTX Group companies were included in the Chapter 11 filing, particularly FTX US. The answer is because FTX US was not operated independently of FTX.com," Ray said.

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FTX ex-CEO Sam Bankman-Fried says he wants to start a new businessSam Bankman-Fried, the disgraced founder of the failed crypto-exchange FTX, says he wants to start a new business to help his investors make back the money they lost in the crash. Somebody find a way to handcuff this guy and bring him into custody? He should! While he is in jail!
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SBF tried to destabilize crypto market to save FTX: ReportMessages in a Signal group chat reveal what happened one day before FTX filed for bankruptcy. Looks like someone turned it around on him lol Why everyone wanting to sugarcoat what SBF_FTX did Biggest fraud and ponzi ever yet Media keeps kissing his ass They subpoena roaringkitty for gamestop pump? But RepMaxineWaters is begging SBF_FTX like a dog to please come to the same congress hearing? Make it make sense Dude is VILE!!!
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