FTX CEO Ray Says Chapter 11 Was Best Option

[@ericheick7044]

So nice that SBF doesn't have to testify now. What timing on his arrest before he had a chance to possibly point to those that protected him

[@AJ-iu6nw]

can someone delete this comment? spreading false conspiracies much

[@eugeneeugene3093]

@@AJ-iu6nwthat’s not a conspiracy, he was a lobbyist in Washington. That’s a fact

[@ericheick7044]

@user-oy5ph6yk5g lol. Go cry harder. Waaaaah censor him. I don't like that he made a valid comment. There is clear evidence he paid politicians from both parties, bought off journalists, influencers, etc. Are you some kind of SBF apologizer? You really think he built FTX and the backdoor channel to Alemeda Research by himself? That's how investor money was siphoned out of FTX. SBF and his parents now own over $100 million of property in the Bahamas. Paid for with FTX money Go troll somewhere elese

[@AnotherAmerican91]

How is he being protected when he is spending the rest of his life in jail?

[@ericheick7044]

@@AnotherAmerican91 so just because he was arrested means he is going to spend the rest of his life in jail? Wow, it's amazing you can see into the future

[@vernefits1953]

John is the man

[@svensvensen802]

BANKMAN-FRIED the law professor fam!!!

[@mikewhelan9561]

who appointed him . how does that work . they have no board to appoint him .

[@Husker_]

It's because FTX filed for Chapter 11 bankruptcy. In certain cases a "trustee" will be appointed by a bankruptcy court. It is not very common, but it happens in cases of fraud. John Ray also oversaw the Enron bankruptcy so he has some very solid experience overseeing a bankruptcy case due to fraud.

[@olasek7972]

It is no longer a normal company, hence no board, etc. it is a bankrupt company.

[@makedredd299]

The better option would be Chapter 10.

[@MrRj600rr]

Just say it “A complete $4it show”

[@jeremyunterweger4712]

Filing for chapter 11 is very lucrative for Ray! Becoming the new CEO and is earning more than USD 2 mio a year!! Who pays that bill? FTX customers of course

[@EmmMacken]

How much will the taxpayer have to pay for everything?

[@mirceapintelie361]

nothing

[@ShamileII]

0! It's defi! No government regulations, controls or backing. You're on your own lol

[@columbo1966]

Will all the court costs/investigations be paid by the government? or out of remaining ftx assets?

[@reinholdstephen]

Where's our money, chump?