Lawyers for the once-mighty crypto-exchange FTX described a company riddled with dysfunction and mismanagement during a court hearing on Tuesday, as they sought to explain how the sprawling empire founded by Sam Bankman-Fried was brought to its knees in a matter of days.
"We have witnessed one of the most abrupt and difficult collapses in the history of corporate America," said James Bromley, an attorney representing the company.
