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News

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

November 16, 2022 - Around 2 mins mins to read
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.
The new CEO

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

CEO FTX

FTX

FTX Collapse

John J. Ray III

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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.
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.
The new CEO

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

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