For example, despite statements by founder Sam Bankman-Fried that the business had $5.5 billion in "less liquid" crypto tokens.
The corporation's total fair value of crypto holdings was just $659,000 as of the end of September.
New FTX CEO John Ray III, who is in charge of the company's liquidation, stated.
Never in my experience have I seen such a total collapse of corporate controls and such a complete lack of trustworthy financial information as happened here.
Given that Ray managed the Enron liquidation after the company's more than $60 billion bankruptcy in 2001.
Given that FTX founder Sam Bankman-Fried prefaced successive tweet storms regarding the company's finances with caveats like "approximate,".