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The Latest Breaking News from John Ray III

Former FTX CEO Sam Bankman-Fried arrested in the Bahamas

The arrest was made Monday after the U.S. filed criminal charges that are expected to be unsealed Tuesday, according to U.S. Attorney Damian Williams. Bankman-Fried had been under criminal investigation by U.S. and Bahamian authorities following the collapse last month of FTX.

Chicago Sun-Times

Bankman-Fried to face off with lawmakers over FTX collapse

The former CEO of the failed cryptocurrency firm FTX will testify before a Congressional committee Tuesday, his first appearance under oath since FTX filed for bankruptcy roughly a month ago

The Independent UK

US files charges against FTX's Bankman-Fried, who is arrested in Bahamas - Roll Call

Bahamas authorities arrested Sam Bankman-Fried on Monday at the request of the U.S., which has filed charges against the former FTX CEO.

Roll Call

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Meet the power players trying to make FTX customers whole

Rishi Jain, a managing director at a private equity consulting company, has been placed in charge of what’s left of FTX Ventures.

Fortune

FTX was run as ‘personal fiefdom’ of Sam Bankman-Fried, court hears

Hearing in Delaware bankruptcy court is the first since the cryptocurrency exchange declared bankruptcy earlier this month

The Guardian - US

TechScape: How do you slice a billion-dollar crypto bankruptcy pie?

The 50 biggest claims against FTX total $3.1bn. Now a US court has to determine who gets what – if anything. Plus, what will be more valuable by the end of the year: Musk’s stake in Twitter, or a lettuce?

The Guardian - UK

Polyamory, penthouses and plenty of loans: inside the crazy world of FTX

After the crypto firm collapsed, the executive who handled the Enron debacle was brought in – and said he’d never seen anything like it

The Guardian - UK

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What do we know so far about collapse of crypto exchange FTX?

How did Sam Bankman-Fried’s FTX fail and what does the firm’s fate tell us about cryptocurrencies?

The Guardian - UK

FTX's downfall casts a shadow over other sports-rights deals. What's up, Crypto.com Arena?

When the Miami Heat announced in March 2021 that the team had sold naming rights for its arena to FTX, the response from sports fans was a resounding: Who?

Los Angeles Times

Why the FTX scandal gets compared to Enron

If FTX's blowup is anything like Enron's, that means big changes are on the horizon for the systems that enabled the crypto company's rise and fall.

Axios

The Enron man in charge of restructuring FTX has one big takeaway from this bankruptcy: There is no paper trail

Usually in bankruptcies, it's at least clear who the 50 largest creditors are, or where the money was coming from. Not this time.

Fortune

New FTX boss, who worked on Enron bankruptcy, condemns ‘unprecedented failure’

US corporate restructuring expert John Ray says ‘never in my career have I seen such a complete failure of corporate controls’

The Guardian - US

FTX files Chapter 11, SBF resigns

FTX’s filing is the culmination of a stunning week in cryptocurrency.

Axios

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