On November 11, the embattled crypto exchange FTX filed for Chapter 11 bankruptcy protection. Immediately after the news, the disgraced FTX founder Sam Bankman-Fried (also known as SBF) resigned as the CEO of the crypto exchange FTX Group and John […]

The post Worse than Enron: Sam Bankman-Fried used FTX’s customers’ money to fund his lavish lifestyles and employees. Here’s the full text of FTX’s bankruptcy filing (PDF) appeared first on Tech News | Startups News.

In sharp criticism of Sam Bankman-Fried’s style of management, the new FTX CEO John Ray revealed his stance on the company’s activities. He mentioned in the latest court filing, “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information.”

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