FTX employees were claiming expenses through online chat and random managers used emojis to approve them, new CEO says in bankruptcy filings
Employees of crypto exchange FTX would file expense claims through chat messages, and random managers would approve the claims by responding with emojis, the firm's new CEO said in court filings.
Ray, a lawyer who also oversaw the bankruptcy of energy giant Enron, was called in to lead FTX's restructuring. The exchange filed for bankruptcy on "One of the most pervasive failures of the FTX.com business in particular is the absence of lasting records of decision-making," Ray said, per the filing."Mr Bankman-Fried often communicated by using applications that were set to auto-delete after a short period of time." Ray said FTX"never had board meetings" and that the exchange used employees' personal names to purchase real estate in the Bahamas with corporate funds.
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