What SBF said about the new CEO of FTX resonated! The founder of the crypto exchange says the document exists, although John Ray laments poor record-keeping.
The testimony of the new FTX CEO John J Ray III is “false,” said Sam Bankman-Fried, the founder of the now-weak crypto exchange, in an interview with Block. In the financial statements filed on Nov. 17, restructuring specialist Ray was accused of poor record-keeping and unreliable financial information at FTX, which filed for Chapter 11 bankruptcy in Delaware on Nov. 1.
In an interview published Monday, Bankman-Fried referred to “statements that were made, that are in the legal record that I know to be false.”
SBF added, “There have been times where it was said that XYZ doesn’t exist, and I’m looking at one XYZ.” Bankman-Fried also said she has only had “limited access to data” since she stepped up as CEO.
Bankman-Fried said the lie could be a lie or a mistake of fact and Ray and his team did not respond to emails from Bankman-Fried on the matter. “I think it’s difficult, if you’re trying to take over a business and refuse to tell anyone involved in the business, you know, in the short term, where the important data will be, ” y including companies. documents and written policies, Bankman-Fried said.
The statement came in response to questions about the new CEO’s comments about poor financial management. “I have to challenge the assertion that there is no financial control,” SBF said. “I absolutely agree that there are areas of poor management and those areas are very dangerous and it’s really bad.”
In his previous speech, Ray said that in his 40-year career, he had never seen “a complete breakdown of corporate governance and total lack of reliable financial information” as he did. seen when he took over from FTX. Ray said the company did not have proper documentation, records or security controls for its digital assets, or even a complete list of its employees and salaries.
Investor Alameda Research and related companies have not kept a detailed record of their investment, Ray said, adding that the court should not rely on the research funding statement which he said has “great concern”.