Bankruptcy Lawyers Say FTX Was Operated by ‘Inexperienced and Unsophisticated Individuals’

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On Tuesday, the attorneys representing FTX told the court that a “substantial amount of assets have either been stolen or are missing” and further stressed to the bankruptcy court that FTX executives left the lawyers James Bromley and Sullivan Cromwell with limited information. Bromley further likened the former FTX CEO Sam Bankman-Fried’s (SBF) crypto empire to his “personal fiefdom” and in the end, the attorney said, “the emperor had no clothes.” Bankruptcy Lawyers Outline FTX’s Financial Issues, Lawyer Says Case Is One of the Most ‘Difficult Collapses in the Histor ...

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