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House financial services committee publishes prepared testimony from FTX CEO Ray

House financial services committee publishes prepared testimony from FTX CEO Ray

The House financial services committee publishes a prepared testimony from FTX CEO John Ray.

Some highlights:

  • FTX Collapse appears to stem from concentration of control in small group of inexperienced and unsophisticated individuals
  • FTX failed to implement virtually any systems necessary for company entrusted with people's money or assets
  • Used computer infrastructure that gave senior management access to systems that stored customer assets
  • Had unaccept... Read More
Posted: Dec 12 2022, 19:00
Author Name: forexlive
Views: 110545

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