Debtors' Report Exposes FTX Group's Control Failures and Greed.

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Source: PR Newswire
Debtors' Report Exposes FTX Group's Control Failures and Greed.
Photo: PR Newswire
TL;DR Summary

FTX Trading Ltd. and its affiliated debtors have released a report identifying control failures by FTX Group's previous management team in critical areas, including management and governance, finance and accounting, digital asset management, information security, and cybersecurity. The report is based on the Debtors' review of terabytes of electronic data and communications, more than one million documents, and interviews conducted with 19 former FTX Group employees. The Debtors' review is ongoing, and the report is expected to be the first in a series regarding pre-petition events and issues that preceded the Chapter 11 cases.

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