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FTX's new CEO accused the collapsed crypto exchange of 'old school' embezzlement that was 'not sophisticated at all'

Dec 14 2022 by Business Insider

John Ray, the new CEO of FTX (left), and former CEO Sam Bankman-Fried (right, center).

Tom Williams/CQ-Roll Call, Mario Duncanson / AFP

FTX's new CEO has accused the collapsed crypto exchange of "old school" embezzlement. In congressional testimony Tuesday, John Ray said the alleged fraud at FTX was "not sophisticated." Ray also said he wouldn't trust any of FTX's records.

FTX's new CEO has accused the crypto exchange of "old school" embezzlement in scathing congressional testimony.

In his four...

Continue Reading FTX's new CEO accused the collapsed crypto exchange of 'old school' embezzlement that was 'not sophisticated at all'