kraukonge： Legislative inquiry

 According to the filing, fund disbursement was also dysfunctional throughout the FTX Group. An example is that employees often sent in payment requests vis a chat platform. And then disparate supervisors would approve the disbursement by simply responding with personalized emojis.

Furthermore, Ray III noted that company funds were used to buy houses and other personal items for advisers and employees. All this lacked appropriate transaction documentation, even the loans.
The US House Committee on Financial Services set a date in December to hear cases regarding the exchange’s collapse. Importantly, how SBF ran the company’s assets should be the center of attention.
One may not fully know the scale of the negative effects of the situation yet because it is quite unprecedented. Perhaps the most evident fact is that debtors in charge of the bankruptcy proceedings have just secured part of the assets they planned to recover. Cold wallets with about $740 million worth of cryptocurrency have been secured, but it’s unknown which silo the funds might belong to.
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