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FTX Update Compilation | SBF Interviewed Again: New CEO John J Ray III's Testimony is Incorrect, and He Doesn't Respond to My Emails

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FTX Update Compilation | SBF Interviewed Again: New CEO John J Ray III

Prior to this, the newly appointed CEO John J. Ray III heavily criticized FTX, stating that he had never seen such poor corporate governance. There was a complete lack of reliable financial information. However, SBF mentioned that the relevant financial data and documents do exist, but it is difficult to understand the specifics without engaging with the former operators.

SEC Chairman to Brief House Democrats on FTX Situation

According to a report by The Block, U.S. Securities and Exchange Commission (SEC) Chairman Gensler will speak at a briefing for Democratic members prior to the House Financial Services Committee hearing, addressing concerns from both parties about whether the SEC can take further actions to protect investors.

As per the calendar obtained by The Block and confirmed by Democratic aides, senior staff from the U.S. Commodity Futures Trading Commission (CFTC) have also briefed bipartisan staff of the financial services committee.

Currently, Democratic members of the House Financial Services Committee are holding a series of closed-door briefings with financial regulators in preparation for next week's hearing on FTX.

Chair of U.S. House Financial Services Committee: SBF Must Attend Hearing

Chair of the U.S. House Financial Services Committee, Maxine Waters, tweeted that former FTX CEO Sam Bankman-Fried (SBF) has sufficient knowledge to testify before the House Financial Services Committee:

"Based on your role as the former CEO and recent media interviews, it is clear that you possess the information necessary to testify. The collapse of FTX has harmed millions of people, and your testimony is not only meaningful to members of Congress but also to the American people. You must attend the hearing on the 13th, and if there is more information to share later on, we are willing to schedule further hearings."

Previously reported by Foresight News, the U.S. House Financial Services Committee is set to hold a hearing titled "Investigating the Collapse of FTX, Part I" on December 13, but SBF stated that he would participate "once I have completed learning and reviewing what happened," without committing to a specific date.

SBF: Company Records, Policy Documents Exist, New CEO Has Not Responded to Me

Former FTX CEO Sam Bankman-Fried (SBF) stated in an interview with The Block that the testimony of FTX's new CEO John J Ray III is "incorrect":

Despite John J Ray III stating that the company's financial records were poorly maintained, the documents do exist, and the new CEO has not responded to my emails. "I think if you are attempting to take over a company but refuse to speak to anyone involved in its operation, it is difficult to know where any relevant data is in a short period of time, including company records and policy documents."

As reported earlier by Foresight News, John J. Ray III harshly criticized SBF's management during his tenure in a series of documents submitted to the Delaware court, stating that the company was chaotic and disorganized due to financial discrepancies.

This article is authorized for reprint from Foresight NewsForesight News, Foresight News is a Chinese content platform in the Web3 vertical domain, committed to the basic principles of "objectivity and neutrality," dedicated to creating a Chinese gateway to the Web3 world.