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Never in my career have I witnessed such a corporate control failure: New CEO of FTX

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  • “Never in my career have I seen such a catastrophic collapse of corporate controls and such a complete absence of trustworthy financial information as occurred here,” said John Ray, the new CEO of the bankrupt cryptocurrency exchange FTX.
  • Sam Bankman-Fried, co-founder and former CEO of FTX, was also criticised by him for making “erratic and false public remarks.”
  • Prior to that, Binance cancelled a purchase of FTX.

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