FTX.US

FTX, the defunct cryptocurrency exchange, is finally being forced to publicly detail its spending habits in the company’s ongoing Chapter 11 bankruptcy proceedings. And the resulting documents are illuminating.The crypto exchange, founded and formerly owned by fallen blockchain golden boy, Sam Bankman-Fried, spent hundreds of thousands of dollars on extraneous food and fun purchases over the course of just a couple of months—presumably for employees. Previously unsealed court filings have shown that the debtors owed by…

Sam Bankman-Fried, far left, was last in court Feb. 9. Prosecutors were concerned the failed FTX founder has been trying to communicate with encrypted messaging apps like Signal.Photo: Michael M. Santiago (Getty Images)Federal prosecutors are squinting pretty hard, trying to keep an eye on what the failed FTX founder Sam Bankman-Fried has been doing while he’s been ordered by the court to live under his parents’ roof. The young crypto founder has reportedly been accessing the internet using a VPN, and the U.S. Attorneys…

John J. Ray III, the new FTX CEO in charge of handling the company’s bankruptcy, wrote this was the one of the worst cases he’s had to struggle through, calling it ‘a complete failure of corporate controls.’Photo: Sergei Elagin (Shutterstock)Just how bad do you have to be for a 40-year veteran of corporate undoings to call you one of the most faulty, most compromised entities he’s ever seen? John J. Ray III was tapped to handle the chapter 11 bankruptcy proceedings of FTX’s multiple major corporate entities. In his latest…

The Securities and Exchange Commission and Justice Department are investigating cryptocurrency platform FTX following its sudden implosion this week, a person familiar with the matter said.Staff at the two law-enforcement agencies were in close contact Wednesday, the person added. The Justice Department prosecutes criminal violations such as fraud, while the SEC enforces civil investor-protection laws. Spokesmen for the Justice Department and SEC declined to comment. FTX didn’t respond to requests for comment.…