{"id":508955,"date":"2022-11-17T15:25:45","date_gmt":"2022-11-17T15:25:45","guid":{"rendered":"https:\/\/uniquehot.com\/?p=508955"},"modified":"2024-06-11T15:02:41","modified_gmt":"2024-06-11T15:02:41","slug":"ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/","title":{"rendered":"FTX New CEO John Ray Reveals More SBF Scandals In Court Filing"},"content":{"rendered":"<p>The new CEO of collapsed crypto exchange FTX, John Ray III, has <a href=\"https:\/\/pacer-documents.s3.amazonaws.com\/33\/188450\/042020648197.pdf\" target=\"_blank\" rel=\"noopener nofollow\">filed<\/a> an initial statement with the U.S. Bankruptcy Court for the District of Delaware, making a scathing judgment of Sam Bankman-Fried and his companies.<\/p>\n<p>Ray was appointed CEO of FTX less than a week ago when founder Bankman-Fried filed for bankruptcy protection for FTX, Alameda and more than 130 related companies and stepped down as CEO.<\/p>\n<p>The new CEO has taken the lead role in several of the largest corporate collapses in history, exposing criminal activity and malfeasance such as in the Enron case. So the man has experience with scandal and mismanagement. Yet, in his first court filing, he states:<\/p>\n<blockquote><p><strong>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.<\/strong><\/p><\/blockquote>\n<p>&#8220;From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented,&#8221; Ray said.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/paolo-ardoino-talks-ftx-adoption-and-self-custody-with-newsbtc\/\" target=\"_blank\" rel=\"noopener \">Paolo Ardoino Talks FTX, Adoption And Self-Custody With NewsBTC<\/a><\/div>\n<p>The new CEO also made it known that the Antigua and Bahamas-based FTX Group companies, in particular, did not have adequate corporate governance and many had never held a board meeting. FTX, FTX US and Alameda had virtually &#8220;no accounting department&#8221;.<\/p>\n<p>In addition, the bankruptcy trustee chalks up the lack of an accurate list of bank accounts and authorized signatories, as well as insufficient creditworthiness of bank partners.<\/p>\n<h2>New FTX CEO Reveals Deep Swamp Of Bankman-Fried<\/h2>\n<p>What else is Ray revealing? The bankruptcy trustee also stated, among other things, that the &#8220;fair value&#8221; of all cryptocurrencies held by FTX internationally is only $659!<\/p>\n<p>Further, Ray estimates the total of all consolidated assets to be around $2.56 billion. Only recently, SBF estimated the value at $5.5 billion on Twitter.<\/p>\n<p>Moreover, Ray also discloses the use of company funds to pay for houses and other items for employees. Literally users paid for SBF&#8217;s luxury mansion:<\/p>\n<blockquote><p><strong>I understand that FTX Group corporate funds have been used in the Bahamas to purchase homes and other personal property for employees and consultants. I understand that there appear to be no loan records for some of these transactions and that certain properties have been recorded in the Bahamian records in the personal names of these employees and consultants.<\/strong><\/p><\/blockquote>\n<p>In addition, it is alleged that there may &#8220;be very substantial transfers of Debtor property in the days, weeks and months prior to the Petition Date&#8221;.<\/p>\n<p>If this weren&#8217;t scandalous enough, Ray reveals that Bankman-Fried&#8217;s hedge fund has loaned $2.3 billion to&#8230; Sam Bankman-Fried himself, to his Paper Bird company.<\/p>\n<p>Want another scandal? The bankruptcy documents also disclose that FTX coded its liquidation protocol in such a way that Alameda was excluded from liquidation. Insane!<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/uniquehot.com\/news\/this-firm-offers-8-to-12-cents-on-a-dollar-of-ftx-user-deposit-claims\/\" target=\"_blank\" rel=\"noopener \">This Firm Offers 8 To 12 Cents On A Dollar Of FTX User Deposit Claims<\/a><\/div>\n<p>But that&#8217;s far from all. Thus, under Bankman-Fried, FTX did not include customer liabilities in FTX&#8217;s financial statements. &#8220;I do not believe it appropriate for stakeholders or the Court to rely on the audited financial statements as a reliable indication,&#8221; Ray asserted.<\/p>\n<p>Ray also cannot answer the question of who was on Bankman-Fried&#8217;s company payroll. &#8220;The Debtors have been unable to prepare a complete list of who worked for the FTX Group as of the Petition Date.&#8221;<\/p>\n<p>Island Bay Ventures, the company that holds FTX&#8217;s stake in Scaramucci&#8217;s SkyBridge, is another major issue. Ray can&#8217;t find the company&#8217;s financials.<\/p>\n<p>The document also indicates that FTX loaned FTT token worth $250 million to BlockFi. Why? Possibly to prop up BockFi&#8230;.<\/p>\n<p>But there is also good news. The document reveals that SBF&#8217;s role in the bankruptcy is to be investigated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The new CEO of collapsed crypto exchange FTX, John Ray III, has filed an initial statement with the U.S. Bankruptcy Court for the District of Delaware, making a scathing judgment of Sam Bankman-Fried and his companies. Ray was appointed CEO of FTX less than a week ago when founder Bankman-Fried filed for bankruptcy protection for FTX, Alameda and more than 130 related companies and stepped down as CEO. The new CEO has taken the lead role in several of the largest corporate collapses in history, exposing criminal activity and malfeasance such as in the Enron case. So the man has experience with scandal and mismanagement. Yet, in his first court filing, he states: 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. &#8220;From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented,&#8221; Ray said. Related Reading: Paolo Ardoino Talks FTX, Adoption And Self-Custody With NewsBTC The new CEO also made it known that the Antigua and Bahamas-based FTX Group companies, in particular, did not have adequate corporate governance and many had never held a board meeting. FTX, FTX US and Alameda had virtually &#8220;no accounting department&#8221;. In addition, the bankruptcy trustee chalks up the lack of an accurate list of bank accounts and authorized signatories, as well as insufficient creditworthiness of bank partners. New FTX CEO Reveals Deep Swamp Of Bankman-Fried What else is Ray revealing? The bankruptcy trustee also stated, among other things, that the &#8220;fair value&#8221; of all cryptocurrencies held by FTX internationally is only $659! Further, Ray estimates the total of all consolidated assets to be around $2.56 billion. Only recently, SBF estimated the value at $5.5 billion on Twitter. Moreover, Ray also discloses the use of company funds to pay for houses and other items for employees. Literally users paid for SBF&#8217;s luxury mansion: I understand that FTX Group corporate funds have been used in the Bahamas to purchase homes and other personal property for employees and consultants. I understand that there appear to be no loan records for some of these transactions and that certain properties have been recorded in the Bahamian records in the personal names of these employees and consultants. In addition, it is alleged that there may &#8220;be very substantial transfers of Debtor property in the days, weeks and months prior to the Petition Date&#8221;. If this weren&#8217;t scandalous enough, Ray reveals that Bankman-Fried&#8217;s hedge fund has loaned $2.3 billion to&#8230; Sam Bankman-Fried himself, to his Paper Bird company. Want another scandal? The bankruptcy documents also disclose that FTX coded its liquidation protocol in such a way that Alameda was excluded from liquidation. Insane! Related Reading: This Firm Offers 8 To 12 Cents On A Dollar Of FTX User Deposit Claims But that&#8217;s far from all. Thus, under Bankman-Fried, FTX did not include customer liabilities in FTX&#8217;s financial statements. &#8220;I do not believe it appropriate for stakeholders or the Court to rely on the audited financial statements as a reliable indication,&#8221; Ray asserted. Ray also cannot answer the question of who was on Bankman-Fried&#8217;s company payroll. &#8220;The Debtors have been unable to prepare a complete list of who worked for the FTX Group as of the Petition Date.&#8221; Island Bay Ventures, the company that holds FTX&#8217;s stake in Scaramucci&#8217;s SkyBridge, is another major issue. Ray can&#8217;t find the company&#8217;s financials. The document also indicates that FTX loaned FTT token worth $250 million to BlockFi. Why? Possibly to prop up BockFi&#8230;. But there is also good news. The document reveals that SBF&#8217;s role in the bankruptcy is to be investigated.<\/p>\n","protected":false},"author":571,"featured_media":473455,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-508955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\n<title>FTX New CEO Reveals More SBF Scandals In Court Filing<\/title>\n<meta name=\"description\" content=\"The new CEO of FTX has filed an initial statement with the U.S. Bankruptcy Court, revealing numerous scandals.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FTX New CEO Reveals More SBF Scandals In Court Filing\" \/>\n<meta property=\"og:description\" content=\"The new CEO of FTX has filed an initial statement with the U.S. Bankruptcy Court, revealing numerous scandals.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/\" \/>\n<meta property=\"og:site_name\" content=\"NewsBTC\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/newsbtc\" \/>\n<meta property=\"article:published_time\" content=\"2022-11-17T15:25:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-11T15:02:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"844\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jake Simmons\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@https:\/\/twitter.com\/realJakeSimmons\" \/>\n<meta name=\"twitter:site\" content=\"@newsbtc\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Simmons\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"NewsArticle\",\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/\"},\"author\":{\"name\":\"Jake Simmons\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\"},\"headline\":\"FTX New CEO John Ray Reveals More SBF Scandals In Court Filing\",\"datePublished\":\"2022-11-17T15:25:45+00:00\",\"dateModified\":\"2024-06-11T15:02:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/\"},\"wordCount\":643,\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844\",\"articleSection\":[\"Cryptocurrency Market News\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2022\",\"copyrightHolder\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/\",\"url\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/\",\"name\":\"FTX New CEO Reveals More SBF Scandals In Court Filing\",\"isPartOf\":{\"@id\":\"https:\/\/uniquehot.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844\",\"datePublished\":\"2022-11-17T15:25:45+00:00\",\"dateModified\":\"2024-06-11T15:02:41+00:00\",\"description\":\"The new CEO of FTX has filed an initial statement with the U.S. Bankruptcy Court, revealing numerous scandals.\",\"breadcrumb\":{\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#primaryimage\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844\",\"width\":1500,\"height\":844,\"caption\":\"FTX CEO\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/uniquehot.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FTX New CEO John Ray Reveals More SBF Scandals In Court Filing\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/uniquehot.com\/#website\",\"url\":\"https:\/\/uniquehot.com\/\",\"name\":\"NewsBTC\",\"description\":\"Bitcoin &amp; Cryptocurrency News Today\",\"publisher\":{\"@id\":\"https:\/\/uniquehot.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/uniquehot.com\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/uniquehot.com\/#organization\",\"name\":\"NewsBTC\",\"url\":\"https:\/\/uniquehot.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"contentUrl\":\"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46\",\"width\":157,\"height\":46,\"caption\":\"NewsBTC\"},\"image\":{\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/newsbtc\",\"https:\/\/x.com\/newsbtc\",\"https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028\",\"name\":\"Jake Simmons\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/uniquehot.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g\",\"caption\":\"Jake Simmons\"},\"description\":\"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/uniquehot.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"FTX New CEO Reveals More SBF Scandals In Court Filing","description":"The new CEO of FTX has filed an initial statement with the U.S. Bankruptcy Court, revealing numerous scandals.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/","og_locale":"en_US","og_type":"article","og_title":"FTX New CEO Reveals More SBF Scandals In Court Filing","og_description":"The new CEO of FTX has filed an initial statement with the U.S. Bankruptcy Court, revealing numerous scandals.","og_url":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/","og_site_name":"NewsBTC","article_publisher":"https:\/\/www.facebook.com\/newsbtc","article_published_time":"2022-11-17T15:25:45+00:00","article_modified_time":"2024-06-11T15:02:41+00:00","og_image":[{"width":1500,"height":844,"url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844","type":"image\/png"}],"author":"Jake Simmons","twitter_card":"summary_large_image","twitter_creator":"@https:\/\/twitter.com\/realJakeSimmons","twitter_site":"@newsbtc","twitter_misc":{"Written by":"Jake Simmons","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"NewsArticle","@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#article","isPartOf":{"@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/"},"author":{"name":"Jake Simmons","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028"},"headline":"FTX New CEO John Ray Reveals More SBF Scandals In Court Filing","datePublished":"2022-11-17T15:25:45+00:00","dateModified":"2024-06-11T15:02:41+00:00","mainEntityOfPage":{"@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/"},"wordCount":643,"publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"image":{"@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844","articleSection":["Cryptocurrency Market News"],"inLanguage":"en-US","copyrightYear":"2022","copyrightHolder":{"@id":"https:\/\/uniquehot.com\/#organization"}},{"@type":"WebPage","@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/","url":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/","name":"FTX New CEO Reveals More SBF Scandals In Court Filing","isPartOf":{"@id":"https:\/\/uniquehot.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#primaryimage"},"image":{"@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#primaryimage"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844","datePublished":"2022-11-17T15:25:45+00:00","dateModified":"2024-06-11T15:02:41+00:00","description":"The new CEO of FTX has filed an initial statement with the U.S. Bankruptcy Court, revealing numerous scandals.","breadcrumb":{"@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#primaryimage","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844","width":1500,"height":844,"caption":"FTX CEO"},{"@type":"BreadcrumbList","@id":"https:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/uniquehot.com\/"},{"@type":"ListItem","position":2,"name":"FTX New CEO John Ray Reveals More SBF Scandals In Court Filing"}]},{"@type":"WebSite","@id":"https:\/\/uniquehot.com\/#website","url":"https:\/\/uniquehot.com\/","name":"NewsBTC","description":"Bitcoin &amp; Cryptocurrency News Today","publisher":{"@id":"https:\/\/uniquehot.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/uniquehot.com\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/uniquehot.com\/#organization","name":"NewsBTC","url":"https:\/\/uniquehot.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","contentUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/logo-min.png?fit=157%2C46","width":157,"height":46,"caption":"NewsBTC"},"image":{"@id":"https:\/\/uniquehot.com\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/newsbtc","https:\/\/x.com\/newsbtc","https:\/\/www.youtube.com\/channel\/UC9v9erBEru5y4c3FA0wehEw"]},{"@type":"Person","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/d4fcdbfaec61dd668092ba3f4d318028","name":"Jake Simmons","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/uniquehot.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/b1c6e6bccf4fbe757cbc0396eeac0abf?s=96&d=mm&r=g","caption":"Jake Simmons"},"description":"Jake Simmons, a dedicated crypto journalist, has been passionate about Bitcoin since 2016 when he first learned about it. Through his extensive work with uniquehot.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. Jake is not just a reporter on technological trends; he is a firm believer in the transformative potential of Bitcoin over traditional fiat currencies. To him, the current financial system is on the brink of chaos, propelled by unchecked government actions and flawed Keynesian economic policies. Drawing from the principles of the Austrian school of economics, Jake views Bitcoin not merely as a digital asset but as a crucial step towards rectifying a failing monetary system. His libertarian views reinforce his stance that just as the church was separated from the state, so too should money be freed from governmental control. For Jake, Bitcoin represents more than just an investment; it's a peaceful revolution. He envisions a future where Bitcoin fosters a sustainable and responsible financial framework for generations to come. His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons"],"url":"https:\/\/uniquehot.com\/author\/marcusmisiak\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"FTX New CEO John Ray Reveals More SBF Scandals In Court Filing","url":"http:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Jake Simmons"}],"creator":["Jake Simmons"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":[],"dateCreated":"2022-11-17T15:25:45Z","datePublished":"2022-11-17T15:25:45Z","dateModified":"2024-06-11T15:02:41Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"FTX New CEO John Ray Reveals More SBF Scandals In Court Filing\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/ftx-new-ceo-john-ray-reveals-more-scandals-in-court-filing\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/ftx-ceo-tsm-esports-gID_1.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2021\\\/10\\\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Jake Simmons\"}],\"creator\":[\"Jake Simmons\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[],\"dateCreated\":\"2022-11-17T15:25:45Z\",\"datePublished\":\"2022-11-17T15:25:45Z\",\"dateModified\":\"2024-06-11T15:02:41Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2021\/10\/ftx-ceo-tsm-esports-gID_1.png?fit=1500%2C844","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/508955"}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/571"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=508955"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/508955\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/473455"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=508955"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=508955"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=508955"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}