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This is wild. My first question was: who is the CFO who signed off on this? FTX literally has no CFO [1]. How is this possible for a billion dollar company and
by jmyeet 4y ago
This is wild. My first question was: who is the CFO who signed off on this?
FTX literally has no CFO [1]. How is this possible for a billion dollar company and billions in client assets? How did the investors not insist on an adult to manage the their investment?
The CFO, and the credibility they bring to the table based on their track record and reputation, is part of the system that helps prevents situations like this.
[1]: https://www.ledgerinsights.com/ftx-warning-signs-no-cfo/ https://www.ledgerinsights.com/ftx-warning-signs-no-cfo/
- SkipperCat 4y agoThat is literally jaw dropping. I'm almost amazed that the WSJ never picked that up. I just did a quick search on the wsj.com site and saw several articles from this past summer and none even mentioned that. WSJ nailed it with Theranos, missed it with FTX.