'We sometimes find $50 million of assets lying around that we lost track of; such is life.'
Now details about the fallen empire, as well as its sister trading firm Alameda Research, are emerging as prosecutors build out a case. Revelations paint a seriously troubling picture of the two companies' operations, which were based in the Bahamas at the time.
The sheer degree of mismanagement was seemingly apparent to Bankman-Fried, who once claimed that Alameda Research was "hilariously beyond any threshold of any auditor being able to even get partially through an audit," according to internal communication cited in the report. "Alameda is unauditable," he allegedly said. "I don't mean this in the sense of 'a major accounting firm will have reservations about auditing it'; I mean this in the sense of 'we are only able to ballpark what its balances are, let alone something like a comprehensive transaction history.'"
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
‘Such is Life:’ FTX Says SBF and Execs Joked About Misplacing Millions of DollarsThe people handling FTX’s bankruptcy say the exchange was so mismanaged they needed to recreate its books from Slack and Google docs records.
Weiterlesen »
Bankman-Fried reportedly joked about losing track of assets worth millionsInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Weiterlesen »
FTX’s ex-US boss saw bonus slashed after ‘protracted disagreement’ with SBF: reportBrett Harrison purportedly had a bonus payment ‘drastically reduced’ after the spat.
Weiterlesen »
FTX's latest bankruptcy report outlines dysfunction of SBF's empireThe report adds more detail to the chaos of Bankman-Fried’s business practices, which it ascribes to 'hubris, incompetence, and greed.'
Weiterlesen »
Metallica Kick off Kimmel Residency Talking Newbie ‘Stranger Things’ Fans, Ripping Through ‘Lux Aeterna’Metallica kicked off their four-night stint on Kimmel to chat about newbie StrangerThings fans and perform 'Lux Aeterna.' 👏
Weiterlesen »
Greg Abbott Is Apparently Perfectly Fine With the Murder of a Black Lives Matter ProtesterTexas Governor Greg Abbott announced plans over the weekend to pardon Daniel Perry, the man convicted last week in the 2020 murder of a legally-armed 28-year-old at a Black Lives Matter demonstration.
Weiterlesen »