FTX CEO blames 'grossly inexperienced' owners for collapse, says customer money funded risky Alameda trades
FTX CEO John Ray III told House lawmakers that the "grossly inexperienced and unsophisticated individuals" running the company had absolute control over customers' funds, which they lost.
5 across the spectrum. Choose a side on the bar to jump to it.
National story. 6 articles from 5 sources. Updated Dec 13, 2022.
Part of FTX's collapse and Sam Bankman-Fried's fraud conviction
How each side is putting it
Left
2 sourcesFTX's new CEO blames its collapse on 'grossly inexperienced and unsophisticated' leadership
Poor management, inexperienced leaders led to FTX collapse, new CEO tells lawmakers
Center
1 sourceFTX collapsed because of "grossly inexperienced" leadership, new CEO says
Right
2 sourcesRan by 1 outlet· FOX Business
'Grossly Inexperienced' Management Led to FTX Collapse, New CEO Tells Lawmakers