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.

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.

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