Coverage dated November 16, 2022

FTX had 'complete failure' of controls, new CEO says

Headline from Digital Journal

Collapsed cryptocurrency exchange FTX suffered a “complete failure of corporate controls” under founder Sam Bankman-Fried.

Digital Journal's own description from its feed. We collect headlines and these descriptions, not full articles; read the original reporting below.

Earlier updates in this story

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Reports & sources

23 articles, oldest first.

Al Jazeera
‘Complete failure of corporate controls’ at FTX, says new CEO (opens Al Jazeera)
Published Nov 16, 2022
Al Jazeera's feed description
Bankruptcy specialist John Ray who took over as CEO when FTX filed for bankruptcy said the situation is ‘unprecedented’.
NBC News
New FTX CEO details 'complete failure of corporate controls' at crypto platform (opens NBC News)
Published Nov 16, 2022
NBC News's feed description
John Ray wrote that the company had a striking lack of financial records, internal communications or even a clear idea of who worked there.
Digital Journal
FTX had 'complete failure' of controls, new CEO says (opens Digital Journal)
Published Nov 16, 2022
Digital Journal's feed description
Collapsed cryptocurrency exchange FTX suffered a “complete failure of corporate controls” under founder Sam Bankman-Fried.
The Guardian
New FTX boss, who oversaw Enron collapse, says crypto exchange’s failure is ‘unprecedented’ (opens The Guardian)
Published Nov 16, 2022
The Guardian's feed description
John Ray III: ‘never in my career have I seen such a complete failure of corporate controls’ despite 40 years of overseeing bankruptcies
Tucson
Exec who cleaned up Enron calls FTX collapse "unprecedented" (opens Tucson)
Published Nov 16, 2022
Tucson's feed description
The new CEO of the collapsed cryptocurrency trading firm FTX, who oversaw Enron’s bankruptcy, said he has never seen such a “complete failure” of corporate control. John Ray III, in
The Daily Caller
‘Complete Failure’: CEO Who Oversaw Enron’s Collapse Says FTX’s Is Even Worse (opens The Daily Caller)
Published Nov 16, 2022
The Daily Caller's feed description
Former Enron CEO John J. Ray III, who oversaw the company's historic collapse, said that the collapse of crypto exchange FTX was the worst he had ever seen
Forbes
New FTX CEO Says Former Billionaire Bankman-Fried Led ‘Unprecedented’ Failure—’Incessant’ Tweets Undermine Bankruptcy Case (opens Forbes)
Published Nov 16, 2022
Forbes's feed description
The veteran bankruptcy attorney, who's cleaned up after "several of the largest corporate failures in history," blasted FTX's "faulty regulatory oversight abroad" and its concentrated control by a "very small group of inexperienced, unsophisticated and potentially compromised individuals."
St. Louis Post-Dispatch
New CEO of FTX blasts its handling of financial information (opens St. Louis Post-Dispatch)
Published Nov 16, 2022
St. Louis Post-Dispatch's feed description
The new CEO of the collapse cryptocurrency trading firm FTX, who oversaw Enron’s bankruptcy, said he has never seen such a “complete failure” of corporate control. John Ray III, in
St. Louis Post-Dispatch
John Ray III, new CEO of collapsed crypto firm FTX, says he's never seen such "a complete failure of corporate controls" (opens St. Louis Post-Dispatch)
Published Nov 16, 2022
St. Louis Post-Dispatch's feed description
John Ray III, new CEO of collapsed crypto firm FTX, says he's never seen such "a complete failure of corporate controls."
Insider
Read the explosive bankruptcy filing where FTX's new CEO called out Sam Bankman-Fried (opens Insider)
Published Nov 16, 2022
Insider's feed description
FTX's new CEO said he's never seen a company in as bad a shape as FTX in 40 years of dealing with bankruptcies.
Insider
Sam Bankman-Fried says filing for bankruptcy at FTX was his 'biggest' mistake and the people now running the company are 'trying to burn it all to the ground out of shame' (opens Insider)
Published Nov 16, 2022
Insider's feed description
FTX entered Chapter 11 bankruptcy last week after it imploded. Bankman-Fried told Vox that filing for bankruptcy was his "biggest single" mistake.
CBS News
FTX's new CEO: "Never in my career have I seen such a complete failure" (opens CBS News)
Published Nov 16, 2022
CBS News's feed description
Bankrupt crypto exchange plagued by "complete absence of trustworthy financial information," CEO John Ray III said.
Insider
FTX's new CEO blasted Sam Bankman-Fried over 'a complete failure of corporate controls' in a scathing bankruptcy filing (opens Insider)
Published Nov 16, 2022
Insider's feed description
"Never in my career have I seen such a complete absence of trustworthy financial information as occurred here," John Ray said on Thursday.
FOX Business
New FTX boss condemns Bankman-Fried for 'complete failure of corporate controls' (opens FOX Business)
Published Nov 16, 2022
FOX Business's feed description
John Ray III, the new FTX CEO tasked with investigating the collapse of the crypto exchange, slammed the leadership of predecessor, Sam Bankman-Fried.

Identical headlines usually mean shared wire copy. They are counted as separate articles but are not independent confirmation.