Stricken crypto exchange was run as a 'personal fiefdom' of founder Sam Bankman-Fried, attorneys for the firm said on Tuesday, as they confirmed 'substantial' losses in cyberattacks following the firm's collapse.The revelations came at FTX's first bankruptcy hearing in court, where one FTX lawyer, James Bromley, said, 'What we are dealing with is a different sort of animal.' 'Unfortunately, the FTX debtors were not particularly well run, and that is an understatement,' he added.
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