So let me get this straight...
FTX was unveiled to be a massive Ponzi / money laundering scheme for the Democrat party (and let's be honest, there were probably many Republicans involved, also), and yet they're still allowed to continue operations because their fall guy, SBF, was outed to the public for his crimes, and they let a new CEO step in?
Why isn't this company shut down altogether? It had no valid purpose except as a DS money funnel, so why is it allowed to continue operating under new "leadership" which proceeded to use the "oops, mismanagement, sorry!" excuse when coming out to the public about what was going on under SBF?
SOMEONE MAKE IT MAKE SENSE TO ME, BECAUSE THIS IS UNACCEPTABLE.
This reeks of a situation reminiscent of one of those shell corporations or LLC's that are shut down when they are revealed to be a scam, only to pop up later under a new LLC with a new name, with a rotation of new characters that move forward to take the place as the face of the "company".
The person who stepped in is the guy who wound down Enron upon their collapse. His job is to recover assets and attempt to pay out creditors and investors. FTX had over 130 businesses that are all part of this pile of Ponzi shit.
Thank you, Fren, for the insight. Sounds like it's not as dire as I expected, and may actually have a justifiable end. I hope people can reclaim at least some of the money they had stolen from them.
I only read the initial report but sounds like the payout will only be a few cents on the dollar. It might not even be that much once they track down all the facts since some assets were only stated and not verified.