The brand new CEO and chief restructuring officer for the bankrupt FTX cryptocurrency trade, John Ray, has icily responded to the erratic sequence of tweets from former CEO and founder Sam Bankman-Fried.
The official Twitter account of FTX on Nov. 16 tweeted an announcement from Ray addressing Bankman-Fried’s latest public statements, reiterating he “has no ongoing position at [FTX], FTX US, or Alameda Analysis Ltd. and doesn’t converse on their behalf.”
(3/3) Mr. Bankman-Fried has no ongoing position at @FTX_Official, FTX US, or Alameda Analysis Ltd. and doesn’t converse on their behalf.
— FTX (@FTX_Official) November 16, 2022
On Nov. 14 Bankman-Fried started a unusual Twitter thread that — over the course of 40 or so hours — finally spelled out “What HAPPENED” throughout 9 tweets, he then went on to assert he was assembly with regulators, desirous to “do proper by clients.”
Afterward, he started to lay out the funds and leverage of FTX and its sister buying and selling agency Alameda Analysis on Nov. 16 claiming FTX’s leverage was round $13 billion, not $5 billion as he initially thought.
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FTX’s downward spiral kicked off in early November with a sequence of occasions finally resulting in the trade and its roughly 130 international subsidiaries submitting for Chapter 11 chapter in the US on Nov. 11.
John J. Ray III took over as CEO on Nov.11 with FTX’s chapter filings. He has gained notoriety for beforehand overseeing the chapter of former fraudulent power big Enron which had round $63.4 billion in belongings and was the biggest company chapter in U.S. historical past on the time.
