FTX founder Sam Bankman-Fried was sent to jail Friday to await trial after a bail hearing for the fallen cryptocurrency wiz left a judge convinced that he had repeatedly tried to influence witnesses against him.
FTX founder Sam Bankman-Fried was sent to jail Friday to await trial after a bail hearing for the fallen cryptocurrency wiz left a judge convinced that he had repeatedly tried to influence witnesses against him.
They were running a ~$50 billion company on quickbooks (!) without a single actual accountant on board.
The CEO brought in to manage the sinking ship said they were “grossly inexperienced and unsophisticated individuals who failed to implement virtually any of the systems or controls that are necessary for a company…”
This is the same CEO that managed the Enron debacle, mind you.
So, I’m starting to think these FTX folks are not exactly smart reasonable people.