December 2, 2022

Bankman-Fried ran FTX as private fiefdom, court docket hears

Bankman Fried ran FTX as personal fiefdom court hears

Bankman Fried ran FTX as personal fiefdom court hears

FTX founder Sam Bankman-Fried ran the cryptocurrency change as his “private fiefdom” earlier than its implosion, in line with a lawyer engaged on the chapter, with “substantial quantities of cash” spent on objects unrelated to the enterprise similar to trip properties within the Bahamas.

“Now we have witnessed one of the abrupt and tough collapses within the historical past of company America,” James Bromley of Sullivan & Cromwell advised a US court docket on Tuesday. He added that chapter…

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