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The New FTX CEO Slams the Crypto Exchange’s Management During Sam Bankman–Tenure Fried’s

 

John J. Ray III, the new CEO of FTX, criticized his predecessor Sam Bankman-Fried for “unprecedented” poor managerial practices in a series documents filed in Delaware. Ray, who was previously in charge of financial crises like Enron, claimed that his predecessor Sam Bankman-Fried had poor record-keeping and lack of senior management experience. He also criticized the use of corporate cash for purchase.

 

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