FTX-Schuldner skizzieren Kontrollfehler in einem neuen Bericht

• FTX debtors released their first report identifying and discussing control failures by the crypto trading platform’s previous management team.
• Der Bericht basiert auf der Auswertung von Terabytes elektronischer Daten zusammen mit über einer Million Dokumenten und Interviews mit 19 ehemaligen Mitarbeitern.
• In a filing submitted in a Delaware bankruptcy court, the current FTX CEO said that the exchange was run by three inexperienced people “not long out of college.” 
• SBF, along with co-founder Gary Wang and former engineering director Nishad Singh, had the “final voice in all significant decisions,” claims John Ray III.

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The collapse of defunct crypto exchange FTX under the leadership of Sam Bankman-Fried, also known as SBF in the crypto space, shook the industry for months, and now, the debtors have released their first report identifying and discussing control failures by the crypto trading platform’s previous management team in critical areas like management and governance, finance and accounting, digital asset management, information security, and cybersecurity. 

Laut a Veröffentlichung, the report is based on the review of terabytes of electronic data and communications, along with over one million documents and interviews with 19 former FTX Group employees. It is crucial to note that “this work was undertaken by the debtors through a team of legal, restructuring, forensic accounting, cybersecurity, computer engineering, cryptography, blockchain, and other experts.”

John J. Ray III, der CEO und Chief Restructuring Officer des in Ungnade gefallenen Unternehmens, sagte, dass die Bericht is being released in the spirit of transparency that was promised from the beginning of the Chapter 11 process, while adding that “in this report, we provide details on our findings that FTX Group failed to implement appropriate controls in areas that were critical for safeguarding cash and crypto assets.”

“FTX Group was tightly controlled by a small group of individuals who falsely claimed to manage FTX Group responsibly, but in fact showed little interest in instituting oversight or implementing an appropriate control framework. We are continuing our efforts to review the events that factored into the fall of FTX and to identify and recover as much value as possible for creditors,” said the executive. 

The report is “expected to be the first in a series regarding pre-petition events and issues that preceded the Chapter 11 cases,” claims the release. Furthermore, in an April 9 court Einreichung submitted in a Delaware Bankruptcy Court, Ray stated that the crypto exchange was run by three inexperienced people “not long out of college.” 

Ray stated that the three people responsible for running FTX “relied on a hodgepodge of Google documents, Slack communications, shared drives, and Excel spreadsheets” to manage the firm’s assets and liabilities. The Chief Restructuring Officer said that his restructuring team “identified extensive deficiencies in the FTX Group’s controls.”

Bankman-Fried, along with co-founder Gary Wang and former engineering director Nishad Singh, had the “final voice in all significant decisions,” claims Ray, while adding that the three had very limited experience.

“These three individuals, not long out of college and with no experience in risk management or running a business, controlled nearly every significant aspect of the FTX Group,” he said.

Brett Harrison, der ehemalige Präsident des US-Arms der Kryptobörse, äußerte Bedenken bei SBF und Singh regarding “the lack of appropriate delegation of authority, formal management structure, and key hires at FTX.US.”

Not sure how this is “new,” as I’ve written and spoken publicly about the circumstances of my resignation from FTX US a number of times since January. https://t.co/b3apaHoOzT

– Brett Harrison (@BrettHarrison88) 9. April 2023

Harrison fügte hinzu, dass SBF emotional unbeständig sei, Konflikte vermeide, Kritik zurückdrängte und ihn sogar von wichtigen Entscheidungen isolierte. Auf der anderen Seite steht Bankman-Fried derzeit unter Hausarrest und darf im Rahmen von Online-Messaging-Anwendungen nicht darauf zugreifen und diese verwenden neue Kautionsbedingungen, die von US-Bezirksrichter Lewis Kaplan auferlegt wurden.

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