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CATEGORY: john j ray iii

FTX financial controls were a ‘hodgepodge’ of apps, says court filings
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Apr 10, 2023 05:50

FTX financial controls were a ‘hodgepodge’ of apps, says court filings

FTX was run by three inexperienced people “not long out of college,” who relied on “a hodgepodge” of online shared documents and communications across a series of different apps to manage the multi-billion dollar empire according to FTX CEO John Ray III. In an April 9 court filing in a Delaware Bankruptcy Court, John J [...]

The post FTX financial controls were a ‘hodgepodge’ of apps, says court filings appeared first on Crypto Breaking News.

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FTX Unveils Reorganization Strategy, Proposing ‘Offshore Crypto Exchange’ and New Trust
Author: Crypto Breaking News
United Kingdom
Source: Crypto Breaking News
Aug 01, 2023 10:30

FTX Unveils Reorganization Strategy, Proposing ‘Offshore Crypto Exchange’ and New Trust

In the midst of the bankruptcy proceedings, FTX presented its primary reorganization strategy and term sheet to the U.S. bankruptcy court, detailing an ambitious plan to reinvent FTX as an “offshore crypto exchange” while also founding a new limited liability trust. At this time, the proposed FTX reorganization plan is targeting a comprehensive settlement between [...]

The post FTX Unveils Reorganization Strategy, Proposing ‘Offshore Crypto Exchange’ and New Trust appeared first on Crypto Breaking News.

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