John Ray News

Bankrupt crypto exchange FTX said in a report to creditors on Tuesday that about $415 million in cryptocurrency had been stolen as a result of hacks.

The debtors behind FTX have identified $5.5 billion in liquid assets but reported a “substantial shortfall of digital assets” at the bankrupt crypto exchange and its U.S. arm.

The crypto community has voiced their opinions on Sam Bankman-Fried’s latest “pre-mortem overview” of the collapse of FTX, published on Jan. 12 as a letter on substack. 

Former FTX CEO Sam Bankman-Fried has largely denied the allegations against him in a ‘pre-mortem overview’ of the crypto exchange’s insolvency.

The FTX Debtors, made up of FTX and its affiliated debtors, and FTX Digital Markets (FTX DM), the Bahamian subsidiary of FTX, announced Jan. 6 that they have reached a cooperation agreement regarding the FTX Debtors’ Chapter 11 bankruptcy case in Delaware and the provisional liquidation of FTX DM in the Bahamas. 

Former FTX CEO Sam Bankman-Fried (SBF) may not be able to offset the two counts of wire fraud and six counts of conspiracy he faces with the credits to be received for entering a guilty plea instead of going to trial. 

Former FTX CEO Sam Bankman-Fried is scheduled to appear in court on the afternoon of Jan. 3 to enter a plea on two counts of wire fraud and six counts of conspiracy against him in relation to the collapse of the FTX cryptocurrency exchange, Reuters reported Dec. 28 citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan. 

United States lawmakers with the Senate Banking Committee had their share of crypto proponents and skeptics in a hearing exploring the collapse of the FTX exchange.

John Ray III, the new CEO of collapsed crypto exchange FTX, has revealed that the new leadership has managed to recover $1 billion worth of assets.

Though Sam Bankman-Fried could not attend the congressional hearing virtually due to his recent arrest in the Bahamas, United States lawmakers held no punches criticizing the former FTX CEO and business practices at the firm.

John Ray III, the new CEO of collapsed crypto exchange FTX, has claimed that Sam Bankman-Fried's crypto empire had virtually no corporate controls and a surprising lack of financial and other record-keeping.

He is scheduled to appear in a magistrates' court today in the Caribbean country's capital, Nassau.FTX filed for bankruptcy last month, leaving its fifty largest creditors $3.1 billion out of pocket.A poster child for the cryptocurrency movement, Bankman-Fried's fall from grace has been sudden and dramatic. A report by newly-installed FTX CEO John Ray last month, blasted his predecessor for "a complete failure of corporate controls and a complete absence of trustworthy financial information".The new CEO also warned that a "substantial portion" of assets held with FTX may be "missing or stolen" and reveals that corporate funds were "used to purchase homes and other personal items for employees and advisors".The SEC's director of enforcement, Gurbir S.

John Ray, who took over as CEO of crypto exchange FTX amid bankruptcy proceedings, has written detailed testimony in preparation for his appearance before the United States House Financial Services Committee. 

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The founder and former CEO of bankrupt cryptocurrency exchange FTX, Sam Bankman-Fried, said he’d be interested in forming a new venture aimed at paying back the customers he owes money to.

Sam Bankman-Fried, once crypto's golden boy, has quickly seen public trust in him erode. While facing possible arrest in the FTX crisis, he has made numerous statements claiming responsibility for the implosion but denying that he knowingly committed fraud.

United States lawmakers have been pushing for certain witnesses — including Sam Bankman-Fried — to appear before committee hearings scheduled in December. Who should the crypto space expect to see testifying on the events leading to the downfall of FTX?

James Bromley, a partner at law firm Sullivan & Cromwell representing debtors in FTX’s bankruptcy case in the District of Delaware, has said that assets at the firm continue to be at risk from cyberattacks.

Court filings show that FTX debtor companies have a total cash balance of just $1.24 billion.

A list of the top 50 creditors of the FTX group of companies has been filed with the bankruptcy court, and the sum total amounts to $3.1 billion.

Collapsed crypto exchange FTX said on Saturday it has launched a strategic review of its global assets and is preparing for the sale or reorganisation of some businesses.