FTX bankruptcy restructuring lead John Ray: Opposes changing law firm Sullivan & Cromwell, they are not bad actors

Andrew Vara, the appointed representative in the United States, submitted a document on January 13 opposing the law firm Sullivan & Cromwell (referred to as S&C) currently working with FTX, citing a conflict of interest due to S&C's connection with FTX. John Ray, the bankruptcy reorganization manager of FTX, has filed an objection with the court, stating that S&C has been very helpful.

John Ray: They Are Not Bad Eggs

John Ray stated that these consultants have been working tirelessly under his guidance to ensure that creditors' assets are preserved in this "dumpster fire." They are not bad eggs.

The real bad eggs are facing criminal charges due to the information and assistance provided by the creditors' consultants. Two of these bad eggs have pleaded guilty, while another is currently being prosecuted.

This is not a "whodunit" situation. In fact, based on the efforts of many and the confessions of those involved, it is clear what happened, how it happened, and who the main participants were and the consequences of their actions.

John Ray Recent Significant Statement: Exchanges May Resume Operations

John Ray, CEO of FTX and head of the bankruptcy reorganization, told The Wall Street Journal that he has set up a working group to explore the possibility of restarting FTX.com. Studying the reactivation of FTX.com, whether it is more valuable to compensate company users than liquidating assets.