Sam Bankman-Fried claims his major mistake was transferring leadership of FTX to new CEO John J. Ray III prior to filing for bankruptcy. This decision, he believes, hindered his ability to rescue the company.
The FTX collapse came after mismanagement of funds led to a loss of billions. Users have received approximately $7.8 billion back while significant amounts remain owed, showcasing the extensive fallout from the incident.
Leave a Reply