Troubled cryptocurrency firm FTX updated its bankruptcy filing in Delaware on Thursday, and the document is chock-full of new insights into the chaotic and questionable business practices that occurred under the leadership of former CEO Sam Bankman-Fried.
John Ray III, who was appointed as FTX's new CEO a week ago and previously oversaw the bankruptcy of scandal-plagued energy firm Enron following its collapse in 2001, blasted Bankman-Fried's management of the company in the court document.
"Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here," Ray wrote.
