Since November, after the collapse of the crypto exchange FTX, a caretaker estate has been trying to unwind the disastrous investments of Sam Bankman-Fried. Led by veteran lawyer John Ray, who previously managed Enron's bankruptcy, lawyers have been combing through the decisions that led to the downfall of the $30 billion empire.
Late Wednesday, the new FTX management team revealed its newest finding, alleging that the company under Bankman-Fried had recklessly spent over $350 million in a bid to win an operating license in Europe. The estate is seeking to claw back the funds.
