Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
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11.18.22 - 'This situation is unprecedented'
Gold last traded at $1,751 an ounce. Silver at $20.94 an ounce.
This situation is unprecedented'; 10 crazy things detailed in FTX's bankruptcy filing- MarketWatch
This situation is unprecedented', giving a sober assessment of the collapse of Sam Bankman-Fried's crypto empire. The bankruptcy-court filing followed a whirlwind of events, including the publication of explosive texts Bankman-Fried sent to a Vox reporter earlier this week.
Ray set the tone for what he has found since FTX filed for bankruptcy protection last week, citing his 40 years of experience in the legal and restructuring business, including a role as chief restructuring officer and CEO of Enron, one of the biggest corporate collapses ever.
"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," Ray wrote. "This situation is unprecedented."
Here are 10 revelations that Ray made in federal bankruptcy court on Thursday about Bankman-Fried and the FTX debacle he created.