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"The Debtors did not have the type of disbursement controls that I believe are appropriate for a business enterprise. For example, employees of the FTX Group su
by HideousKojima 4y ago
"The Debtors did not have the type of disbursement controls that I believe
are appropriate for a business enterprise. For example, employees of the FTX Group submitted payment requests through an on-line ‘chat’ platform where a disparate group of supervisors approved disbursements by responding with personalized emojis."
What a clown show, how did the big money investing in this (the retail money should have known better than to fall for "guaranteed returns" too but the big money was in a place where they could demand more than the hilariously bad "balance sheet" that was revealed a few days ago) not at least demand they have an actual accountant or two on staff managing their books? Some schmuck with no real accounting background using QuickBooks would have done a better job than these jokers. But I guess that was part of the point, letting the money flow fast and loose without any oversight is part of what makes the scam possible. Just glad I never got on the crypto hype train.
- captn3m0 4y agoWhile the original investment might have been made in a bullish market, there is no excuse for the investors being deluded after the Luna collapse.