Three former senior executives close to Sam Bankman-Fried (SBF) were fired from the bankruptcy and newly appointed CEO of FTX.
FTX, one of the most important companies in the crypto industry, is going through turbulent times after its bankruptcy. The resignation and litigation of founder and CEO Sam Bankman-Fried complicated the process. The new CEO, who was appointed to replace him, said it was the first time he had seen such a failure in corporate audits. New CEO John J Ray is working hard to rid the company of its curses. Finally, the restructured FTX fired three deputies of former CEO SBF.
FTX Fires Three of Sam Bankman-Fried’s Assistants
Trying to restructure, FTX fired three top aides of former CEO Sam Bankman-Fried (SBF).
The executives fired were Caroline Ellison, head of Alameda Research, Gary Wang, FTX co-founder, and Nishad Singh, director of engineering. However, the company did not share any information that it was contacted with individuals while dismissing these names.
Using client funds and wanting to keep Alameda Research afloat, SBF teamed up with these three people. Ellison in particular has been the target of scam arrows.
The new CEO of FTX stated that he followed all the processes and understood what was going on.
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