Sam Bankman-Fried, former CEO of FTX, is the founder and former CEO. Think about it His “the biggest” Bankman-Freed made a mistake after the platform collapsed, and filed for bankruptcy under Chapter 11 US Bankruptcy Code. Bankman-Freed said this in a Twitter conversation with Vox reporter Kelsey Piper. “screwed up”And more than one.
“Do you know what was, perhaps, my biggest miscalculation? — Bankman-Fried. — Just one thing everyone told me to do.” He was referring to bankruptcy filings when he said that. Bankman-Fried explains that those now responsible for the company’s financial state are the directors. “Try to burn it down.”
FTX Trading, the owner of the FTX cryptocurrency exchange, West Realm Shires Services Inc. and Alameda Research, filed for bankruptcy last Wednesday following the collapse of the crypto currency in connection to the $ 8 billion financial gap. This was shortly after Bankman Fried, FTX’s CEO, resigned. John J. Ray III, a restructuring specialist and an attorney who had previously overseen the Enron bankruptcy, succeeded him.
Vox reported that Bankman-Fried said so “Now everything would be 70% corrected”If FTX hadn’t filed for bankruptcy. He stated that if this hadn’t been done, the exchange would have unblocked funds being withdrawn from accounts. The exchange would then be able to resume normal operations within a month. Later, Bankman Fried revealed via Twitter that the conversation he had with Vox’s correspondent was not open to public disclosure.
John Ray, who is currently the CEO and director for restructuring at the bankrupt cryptocurrency exchange FTX was brief in his comments on Bankman-Fried’s statements. He stated that Bankman-Fried was no longer associated with FTX, FTX US and Alameda Research and could therefore no longer act for them.