‘Absolutely appalling’: New FTX CEO slams previous management

New FTX cryptocurrency exchange CEO John J. Ray is trying to clean up the "absolutely appalling" mess left behind, says Sky News Business Editor Ross Greenwood.

Mr Ray previously headed up the bankrupted energy trading company Enron, but has said the FTX collapse is “potentially even worse.”

“Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information," he said.

[d-munn]

The Ukrainian Laundry is closing for business. The connections associated with FTX management go to the very top including SEC Chair Gary Gensler. It will be buried & memory holed unless the Republicans run with it.

[allahsnackbar]

How does he declare bankruptcy over fake money?

[XInfantryman]

You give a 30-year-old kid your hard-earned money to invest into an imaginary coin that cost real money to buy and real money to sell and that no one accepts for real merchandise in any store. The whole thing is a scam and everyone who bought into this scam are suckers, not investors.

[spikeprotein]

I hope leatherboy Zelenski got his laundered billions out.