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FTX Founder Sam Bankman-Fried Says Lawyers Pressured Him To Name Replacement


Pressured by lawyers to replace names: FTX Founder Sam Bankman-Fried

FTX founder Sam Bankman Fried was arrested in the Bahamas. (File)

FTX founder Sam Bankman-Fried said he was pressured to nominate John Ray as chief executive of the crypto exchange in early November by lawyers for Sullivan and Cromwell, who are advising. for his company at the time, according to a draft of his testimony to Congress seen by Reuters. .

Soon after Bankman-Fried agreed to nominate Ray, he received “potentially multi-billion dollar funding offers to help clients become inclusive,” Bankman-Fried wrote. But then he was told it was too late to cancel the move.

Bankman-Fried, who was arrested earlier Monday in the Bahamas, could not be reached for comment. Sullivan and Cromwell, FTX and John Ray were not immediately available for comment.

(Except for the title, this story has not been edited by NDTV staff and is published from an aggregated feed.)

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