Wassielawyer, a lawyer specializing in restructuring and insolvency, explains the first declaration from new FTX CEO John Ray in the company’s bankruptcy case. 

Show highlights:

  • why CEO Ray said there’s been a complete failure of corporate controls in FTX
  • how there was no separation of accounts between Alameda and FTX
  • whether FTX US customers are in a better position to recuperate their assets
  • why FTX’s Bahamas unit is seeking protection under Chapter 15 of the US bankruptcy code
  • why there’s a jurisdictional battle, according to Wassie
  • whether the Bahamian government is responsible for letting deposits out of the platform
  • how former CEO Sam Bankman-Fried is trying to save the company 

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