John Ray News

Former FTX executives allegedly splurged millions on funding niche projects completely unrelated to crypto or Web3, including a uniquely named $1.8 million “Pineapple house.”

FTX has recovered about $7 billion in liquid assets so far, and the search for additional assets is continuing, CEO John Ray said in the FTX Debtors’ second interim report, released June 26. The extensive commingling of funds complicates their efforts, however.

FTX has recovered over $7.3 billion in cash and liquid crypto assets, an increase of more than $800 million since January, the company's attorney said on Wednesday at a U.S. bankruptcy court hearing in Delaware. FTX attorney Andy Dietderich said the company is starting to think about its future after months of effort devoted to collecting resources and figuring out what went wrong under the leadership of indicted ex-founder Sam Bankman-Fried. Bankman-Fried has pleaded not guilty. «The situation has stabilized, and the dumpster fire is out,» Dietderich said. FTX has benefited from a recent rise in crypto prices, Dietderich said. Its total recovery would be valued at $6.2 billion based on crypto prices from November 2022, when it filed for bankruptcy after traders pulled $6 billion from the platform in three days and rival exchange Binance abandoned a rescue deal.

FTX is considering rebooting its platform amid reports that the bankruptcy team has managed to stabilize the situation and recover a huge portion of the missing assets.

Cryptocurrency exchange FTX may be considering restarting in the future, according to the legal team behind the debtors.

Alameda Research has filed suit against Grayscale Investments in the Court of Chancery in the State of Delaware, it announced March 6. It also made claims against Grayscale CEO Michael Sonnenshein, Grayscale owner Digital Currency Group (DCG) and the group’s CEO Barry Silbert. 

Judge John Dorsey of the United States Bankruptcy Court for the District of Delaware has denied a motion appointing an independent examiner for FTX.

The joint provisional liquidators of FTX Digital Markets — the firm’s subsidiary in the Bahamas — has released a report on the company’s physical assets in the island nation.

A federal judge has reportedly denied oral arguments proposing former FTX CEO Sam Bankman-Fried be allowed to use certain messaging apps.

A federal judge has denied a joint agreement between Sam “SBF” Bankman-Fried’s legal team and prosecutors that would have allowed the former FTX CEO to use certain messaging apps.

Sam Bankman-Fried’s (SBF's) lawyers have reached an agreement with federal prosecutors concerning his use of messaging apps.

John Ray, who took over as CEO of crypto exchange FTX, has described some of the chaotic experiences at the firm following the company declaring bankruptcy.

A United States judge on Wednesday temporarily barred FTX founder Sam Bankman-Fried from contacting current or former employees of the cryptocurrency exchange or his Alameda Research hedge fund, and from using encrypted messaging tools including Signal.

Sam Bankman-Fried, the disgraced founder of now-defunct cryptocurrency exchange FTX, has requested to meet with the new FTX CEO John Ray. 

United States prosecutors in the criminal case against former FTX chief executive officer Sam Bankman-Fried have released text and email messages from SBF to current CEO John Ray.

Two United States senators have taken their questions about the performance of the accounting firms active in the crypto space to a higher power – the Public Company Accounting Oversight Board (PCAOB). Failure to uncover alleged criminality and poor recordkeeping at FTX has sullied the image of the PCAOB and the accounting profession, the senators said.

Amid ongoing investigations around the defunct crypto exchange FTX, the Commodity Futures Trading Commission (CFTC) questions the due diligence conducted by institutional investors and their accountability regarding the loss of users’ funds.

Large enterprise businesses spend tons of money keeping track of their financial dealings — think accountants, financial analysts, consultants and enterprise-grade accounting software. Sam Bankman-Fried, meanwhile, used Microsoft Excel. 

Several crypto industry commentators have laid skepticism on FTX CEO John Ray’s vision to potentially reboot the crypto exchange, citing trust issues and “second-class” treatment of customers as some reasons why users may not “feel safe to go back.”

John Ray, who took over as CEO of cryptocurrency exchange FTX prior to bankruptcy proceedings, has reportedly set up a task force to consider restarting FTX.com.

Major cryptocurrencies traded in the green early on January 18 as the global crypto market cap rose 0.38 percent to $992.17 billion, over the last day. The total crypto market volume over the last 24 hours is $47.51 billion, which makes a 11.90 percent decrease.