New FTX CEO John Ray Details the Crypto Company's Failures

With the arrest of FTX founder Sam Bankman-Fried still fresh, FTX’s new CEO John Ray testified in front of Congress. Ray appeared to blame the crypto exchange’s collapse on a ‘small group of grossly inexperienced and unsophisticated individuals.’

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[johnpalmieri]

This was meant to happen. It’s all part of a bigger plan.

[jamesmccormick]

This is exactly why I’ve never put a single cent of my money into crypto.

[yeahdude]

It was paperless on purpose to not leave any evidence behind. Perhaps Sam's law professors parents instructed him to do so.

[dwhitman]

Come on now didn't everybody see this coming?

[timhaggas]

Well I guess I need to keep QuickBooks.

[middleagedjabroni]

Hahahaha. So honest question 🙋‍♂️, who in here lost money on FTX?

[DawgBreff]

I like the "unsophisticated" drop 🤣

[DarleneDMD]

All of the people in that company, especially the top dog, should be prosecuted to the max as well as all the Democrats and the few Republicans, who inherited the palm greasing of funds!!! 🤬🤬🤬🤬

[WhalersWorld]

You would think mom and dad would know better. They let it happen!

[btarcia]

Omg millionaire's lost billions! Here comes the buyout!

[vermeiljardin]

I think that was their whole modus operandi. It was intentional.

[jamiehammond]

Why do these people love to have meetings to talk about what should have been done?

[samueladams]

When the Dems start returning their donations, then you know they are taking this seriously.

[dgonzalez]

Look at the way the CEO looked. He looked like he lived in a cave. How would anyone want to invest in his company??

[ynotttt]

Sam will get 20 years tops. He’ll serve about 14 and be out by the time he’s 44 years old. That’s how these things work. Look at all the others.

[allensprouse]

SBF and his girlfriend should receive life sentences without parole, I wonder if Sam will wear shorts when he gets to prison? That will make it a lot easier for Bubbato to do his thing!😂

[uncommonanom]

He’ll get two years that’s it financial crimes are not weighed heavily

[alexthefae]

And this is how musk wants to run twitter like a college kid with to much money

[lescobrandon]

But but he gave money to Dems thats all that matters.

[CrosbyStill]

Its not grossly inexperienced! They are grossly experience cos they know what they want n they did it with flying colours!!