News

New FTX CEO Declares Sam Bankman-Fried’s Involvement Has Been Terminated

FTX CEO, FTX Trading’s new CEO John J. Ray III stated that SBF no longer has an ongoing role at the company and is not authorized to speak on their behalf.
New FTX CEO Declares Sam Bankman-Fried's Involvement Has Been Terminated 2

Regarding Mr. Bankman-Fried Case, FTX Trading’s new CEO John J. Ray III, a lawyer tapped to lead the collapsed crypto exchange’s restructuring, officially stated that:

Sam Bankman-Fried no longer has an ongoing role at the company and does not speak on their behalf

The new CEO also restates that Sam Bankamn-Fried has completely given up all the positions from FTX_Official, FTX US, Alameda Research Ltd. and subsidiaries after accepting responsibility for the crisis at the exchange and seeing his $16 billion fortune vanish.

John J Ray is no stranger to high-profile restructurings and is well-known for his work at Enron. After the company had been under his leadership, $20 billion was returned to the energy company’s creditors. He has also been the administrator in many other prominent bankruptcy cases like Nortel Networks and Overseas Shipholding Group.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Thana

CoinCu News

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.

Recent Posts

Solana DEX Trading Volume Hits $5B Daily for Three Straight Days

Solana DEX trading volume reached historic highs, exceeding $5 billion daily for three days. Raydium…

53 minutes ago

Phantom iOS Users Lost Recovery Phrase After Updating to New Version

Phantom iOS users are warned that a recent app update caused some users to log…

1 hour ago

Japanese Crypto Exchange Coincheck Gets Approval to Launch in the US

Japanese crypto exchange Coincheck is set to become the first Japanese crypto exchange to list…

2 hours ago

DOJ Investigates Polymarket for Alleged Illegal US User Bets

The US DOJ investigates Polymarket for Alleged Illegal US User Bets Polymarket, for allegedly permitting…

3 hours ago

Get Ready for a New Level of Excitement If You Missed Ethereum ICO: Qubetics Could Redefine Success

Ethereum’s ICO was priced at around $0.30 per token, and today, it’s valued in the…

3 hours ago

A Missed Moment with Cardano? Here’s Why Qubetics at $0.0212 Could Be Your Perfect Timing – Explore the Best Crypto to Join Now

If you’ve been regretting missing out on Cardano, Qubetics ($TICS) might just be the ticket…

4 hours ago

This website uses cookies.