Investors Much More Skeptical Of Crypto After Brutal Bear Market, FTX Collapse

  • Current FTX CEO John Ray III, the lawyer who represented plaintiffs after the collapse of Enron, said that the empire run by Bankman-Fried was the worst example of mismanagement he has ever witnessed.
  • “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here,” Ray said in court documents.
  • “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented.”
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