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FTX’s financial mismanagement comes under the microscope
New York CNN Company — The total extent of FTX’s economical disarray is turning into clearer as the unsuccessful crypto exchange’s new management combs for dollars as component of the bankruptcy procedure. In the company’s first Chapter 11 listening to in Delaware Tuesday, restructuring legal professional James Bromley explained that a “substantial amount” of assets have been stolen or are missing. FTX, previously one particular of the most trusted manufacturers in crypto, filed for individual bankruptcy earlier this month. Its CEO and founder, Sam Bankman-Fried, resigned, marking the implosion of his multi-billion-dollar crypto empire. The swift downfall of FTX and Bankman-Fried has shaken investors’ self-confidence in the industry and sparked…