FTX bankruptcy filings highlight 'complete failure of corporat | Trade Crypto Now

FTX bankruptcy filings highlight 'complete failure of corporate controls'

Fresh FTX bankruptcy filings called out Sam Bankman-Fried and the rest of the failed crypto exchange's leadership for a "complete failure of corporate controls" and cited the former CEO's "incessant disruptive tweeting" since the exchange imploded. If granted, the move would help consolidate the myriad of bankruptcies into one U.S. court.

The company’s bankruptcy lawyers argue that Bankman-Fried is actively trying to disrupt the bankruptcy process for the myriad of corporate entities that fall under the FTX umbrella. The embattled crypto mogul has set up a fight against the lawyers and executive hired to shepherd the wind-down process, the new CEO and lead lawyer for FTX’s bankruptcy argue. The filing lays out FTX’s current assets and describes the case as “unprecedented”

Source

@TradeCryptoNow