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19-11-2022, 08:34 AM
From the new FTX CEO
New FTX CEO John J. Ray had some thoughts on his predecessor, the embattled crypto exchange's founder Sam Bankman-Fried, in a Delaware court filing.
Ray, who helped preside over energy company Enron's high-profile bankruptcy two decades ago, brutally noted that FTX was less professionally run than a neighborhood lemonade stand.
Ray’s brutal comments offered a stunning rebuke to venture capitalists who invested tens of millions of dollars in FTX after allegedly performing the most exacting due diligence, and others who treated Sam Bankman-Fried and his crypto exchange as white knights in an industry filled with scoundrels.
From Temasek, Singapore’s state-owned venture capital fund
Similar to all investments, we conducted an extensive due diligence process on FTX, which took approximately 8 months from February to October 2021. During this time, we reviewed FTX’s audited financial statement, which showed it to be profitable.
New FTX CEO John J. Ray had some thoughts on his predecessor, the embattled crypto exchange's founder Sam Bankman-Fried, in a Delaware court filing.
Ray, who helped preside over energy company Enron's high-profile bankruptcy two decades ago, brutally noted that FTX was less professionally run than a neighborhood lemonade stand.
Ray’s brutal comments offered a stunning rebuke to venture capitalists who invested tens of millions of dollars in FTX after allegedly performing the most exacting due diligence, and others who treated Sam Bankman-Fried and his crypto exchange as white knights in an industry filled with scoundrels.
From Temasek, Singapore’s state-owned venture capital fund
Similar to all investments, we conducted an extensive due diligence process on FTX, which took approximately 8 months from February to October 2021. During this time, we reviewed FTX’s audited financial statement, which showed it to be profitable.
https://sgtalk.net/Thread-Sin-Heng-Heavy...ffer-58cts
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