New FTX CEO Ray announces steps taken to staunch bleeding cashflow

FTX US General Counsel Ryne Miller, Chief Restructuring Officer and now appointed Chief Executive Officer of FTX John J. Ray III, in connection with “unauthorized” access to FTX funds issued a statement from

Ray’s statement highlighted its continued efforts to ensure all assets are safe “wherever they are”, explaining that the team is currently “in the process of removing trading and withdrawal functionality.” increase.

Identified digital assets will be found and moved to a “new cold wallet custodian”. Ray also confirmed reports of “unauthorized access to certain assets” and said this did occur.


The next steps described in Ray’s statement detail that “proactive fact-checking and mitigation exercises were immediately launched in response.”

“We are in contact with law enforcement and relevant regulators and are coordinating.”

Having previously handled the liquidation of Enron Corp, a historic and world-famous bankruptcy event, Ray was called in to take over FTX on Friday night.

Post New FTX CEO Ray announces steps taken to solidify the bleeding cash flow that first appeared on CryptoSlate.

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