John Ray – DIGIT INFO

FTX CEO hints Nishad Singh should remain free to assist bankruptcy case

DIGIT — Wed, 30 Oct 2024 15:35:10 +0000

John Ray, who took over as FTX CEO in November 2022, suggested Nishad Singh’s cooperation in the firm’s bankruptcy would be “important to maximize recovery” for creditors.

Go to Source

SEC initiates legal action against FTX’s auditor

DIGIT — Sun, 01 Oct 2023 02:15:15 +0000

The SEC alleges that Prager Metis, an accounting firm engaged by bankrupt crypto exchange FTX in 2021, committed hundreds of violations related to auditor independence.

Go to Source

FTX’s Bankman-Fried seeks gag order for all witnesses in criminal case

DIGIT — Mon, 24 Jul 2023 06:02:25 +0000

Lawyers representing SBF have agreed to a gag order preventing him from making comments that could sway his criminal trial but says it should apply to other witnesses too.

Go to Source

FTX splurged on cartoon, book about humans and ‘Pineapple House,’ alleges CEO

DIGIT — Tue, 27 Jun 2023 06:30:11 +0000

Thousands in grants were given out by former FTX executives for niche projects, according to a report by FTX restructuring chief John Ray.

Go to Source

FTX Debtors Unveil Report That Identifies and Discusses Control Failures by Sam Bankman-Fried Led Management

DIGIT — Mon, 10 Apr 2023 19:49:57 +0000

FTX Debtors said on April 9 that it had released a report that “identifies and discusses control failures” by Sam Bankman-Fried and his colleagues when they ran the collapsed cryptocurrency exchange. John Ray, the CEO of the FTX Debtors, said the FTX Group “was tightly controlled by a small group of individuals who falsely claimed […]

Go to Source

FTX lawyers: Examiner could cost $100M and ‘provide no benefit’

DIGIT — Thu, 26 Jan 2023 05:19:47 +0000

FTX lawyers, joint provisional liquidators of FTX.US and the Bahamas and a committee of creditors have all opposed the appointment of an independent examiner.

Go to Source

FTX reboot could falter due to long-broken user trust, say observers

DIGIT — Fri, 20 Jan 2023 06:14:55 +0000

Crypto industry observers have questioned whether customers or investors will ever want to “come near” FTX again.

Go to Source

FTX CEO says he is exploring rebooting the exchange: Report

DIGIT — Thu, 19 Jan 2023 17:30:00 +0000

FTX Trading, doing business as FTX.com, was one of roughly 130 companies under FTX Group that filed for bankruptcy following the firm’s reported liquidity crunch in November.

Go to Source

Bahamas Regulator Disputes FTX’s Claim About Value of Seized Cryptocurrencies

DIGIT — Thu, 05 Jan 2023 00:30:40 +0000

The Securities Commission of the Bahamas has disputed FTX’s claim that the value of the cryptocurrencies it seized from the bankrupt crypto exchange was not $3.5 billion. The new FTX chief’s “continued lack of diligence when making public statements concerning the Commission is disappointing,” the Bahamian regulator stressed. Bahamas Regulator and FTX Disagree on the […]

Go to Source

Bankruptcy Lawyers Say FTX Was Operated by ‘Inexperienced and Unsophisticated Individuals’

DIGIT — Wed, 23 Nov 2022 17:30:08 +0000

On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that FTX executives left the lawyers James Bromley and Sullivan Cromwell with limited information. Bromley further likened the former FTX CEO Sam Bankman-Fried’s (SBF) crypto empire […]

Go to Source