FTX's new CEO strongly condemns SBF's poor management during his tenure

According to a report by CoinDesk, FTX's new CEO, John J. Ray III, strongly criticized former FTX CEO Sam Bankman-Fried for mismanagement during his tenure in a series of documents submitted to the Delaware court.

According to a report by CoinDesk, FTX's newly appointed CEO John J. Ray III harshly criticized former CEO Sam Bankman-Fried for mismanagement during his tenure in a series of documents submitted to the Delaware court.

John J. Ray III stated, "In my career, I have never seen a company so thoroughly fail at governance and lack credible financial information. From compromised system integrity and erroneous overseas regulation to power concentrated in the hands of very few inexperienced, unseasoned, and potentially compromised individuals, this situation is unprecedented."

This article is authorized and reproduced from Foresight NewsForesight News