Sam Bankman-Fried, former CEO of FTX, is the founder and former CEO. Thinks His “the biggest” Bankman-Freed committed the fatal error of filing bankruptcy under Chapter 11 US Bankruptcy Code. Bankman-Freed spoke on Twitter with Vox reporter Kelsey Piper. “screwed up”You can do it more than once.
“Do you know what was, perhaps, my biggest miscalculation? — Bankman-Fried. — Just one thing everyone told me to do.” This was his reference to declaring bankruptcy. Bankman Fried explains that the current company directors are responsible for the financial affairs. “Trying to burn them 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 occurred shortly after Bankman Fried resigned as CEO of FTX. John J. Ray III was appointed his successor as restructuring specialist, and he is an attorney who also oversaw Enron’s bankruptcy.
Vox was told by Bankman-Fried that “Now everything would be 70% corrected”If FTX had not filed bankruptcy. According to him, if FTX had not filed for bankruptcy, the exchange would already have unblocked the withdrawals of funds from the accounts. Everything would then be in order in one month. Later, Bankman-Fried revealed via Twitter that he had not disclosed the conversation with a Vox correspondent.
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 only noted that Bankman Fried no longer works for FTX, FTX US or Alameda Research. Therefore, he cannot act on their behalf.