Remarks released by the CEO of FTX, ahead of a Congressional hearing, shed more light on the state of FTX, its management and accounting practices

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Remarks released by the CEO of FTX, ahead of a Congressional hearing, shed more light on the state of FTX, its management and accounting practices or lack there of. A lack of financial controls that allowed management to transfer client assets, private keys stored without security controls, the ability of Alameda to borrow funds from FTX with no effective limits, a lack of documentation of investments made with the FTX group.

The hearing before the U.S House Committee on Financial services today at 10am ET will be an interesting proceeding to watch.

Link: https://lnkd.in/efDDEweK

Ted Dziekanowski

#crypto #cryptocurreny #cryptoregulation #theagustagroup

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