FTX Hearing: CEO John J. Ray iii Claims “Embezzlement” Root Cause Of FTX Collapse
FTX’s new chief executive John J Ray III was a lively speaker at a Congressional hearing. He spoke about Sam Bankman-Fried, the founder of FTX, and his actions as well as conflict of interest in the corporate relationship between the FTX crypto exchange and its trading arm. He stated that SBF “should’ve known” about his actions and conflicts of interest in relation to the FTX crypto-exchange and its trading arm.
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