China and FTX share one thing in common: crypto clients.
The Chapter 11 Bankruptcy filing of the cryptocurrency exchange platform FTX continues to reveal some valuable information about the company that suddenly went kaput.
Just recently, through a 30-page document he presented in court, newly appointed CEO John Ray III said corporate funds were used by some of the exchange’s employees and advisors to purchase Bahamian homes that were registered under their respective names.
In the same court communication, Ray III also pointed out that FTX, which used to be one of the largest crypto exchanges in the world under the leadership of then leader Sam Bankman-Fried, did not keep reliable and organized records of many of its transactions.
Moreover, a few days ago, it was also revealed that the amount of debt that the platform now owes to its creditors is now at least $3.1 billion.
Now, the bankruptcy filing has shed light on to which…
