john j. ray iii

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FTX Discovers $5.5B in Liquid Assets — Debtors Explore Ways to Maximize Recovery via Potential Sale of Subsidiaries, Real Estate

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On Jan. 17, 2023, FTX Trading Ltd. and affiliated debtors updated the public and detailed that the firm’s current administrators have discovered $5.5 billion of liquid assets to date. Top-level executives, including the new FTX CEO and chief restructuring officer, John J. Ray III, met with the bankruptcy case’s committee of unsecured creditors to share … Read more

Disgraced FTX Co-Founder Awaits Trial, Passes Time Playing Video Games and Blogging on His New Substack Newsletter

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The former CEO of FTX, Sam Bankman-Fried (SBF), has published a Substack newsletter on Jan. 12, 2023, and the first post is titled “FTX Pre-Mortem Overview.” In the post, SBF maintains that an “extreme, quick, targeted crash precipitated by the CEO of Binance made Alameda insolvent.” The blog post does not mention the allegations made … Read more

Snowden to Musk: ‘I Take Payment in Bitcoin’; Big Short Investor Says Audits of Exchanges like Binance and FTX Are ‘Meaningless,’ and More — Week in Review

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Ahead of the holidays and new year, the former U.S. National Security Agency (NSA) contractor known to the world as a staunch privacy advocate and whistleblower, Edward Snowden, has offered to step up as the new CEO of Twitter after current “Chief Twit” Elon Musk has said he is stepping down. In other news from … Read more

New FTX CEO Told Members of Congress SBF’s Family ‘Certainly Received Payments’ From the Business

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According to multiple reports, FTX co-founder Sam Bankman-Fried’s parents face scrutiny over their reported involvement with their son’s business operations. The two Stanford professors Joseph Bankman and Barbara Fried have not been charged with any wrongdoing, but the current FTX CEO, John J. Ray III, recently told members of the U.S. Congress that Joseph Bankman … Read more