Exec who cleaned up Enron calls FTX mess 'unprecedented'

TL;DR

Exec who cleaned up Enron calls FTX mess ‘unprecedented’NEW YORK (AP) — The man who had to clean up the mess at Enron says the situation at FTX is even worse, describing what he calls a “complete failure” of corporate control.Bankman-Fried was persuaded to give up control of the company by his lawyers as well as his father, Joseph Bankman, a professor at Stanford Law School, according to Thursday’s filing.Since his resignation, Bankman-Fried has sought out news outlets for interviews and has been active on Twitter trying to explain himself and the firm’s failure.Size, scope of FTX failure gets clearer as users fear worstFTX bankruptcy also endangers founder's philanthropic giftsBinance proposes fund to save crypto from future failuresSam Bankman-Fried's downfall sends shockwaves through cryptoIn an interview with the online news outlet Vox, Bankman-Fried admitted that his previous calls for regulation of cryptocurrencies were mostly for public relations.Miami-Dade County decided Friday to terminate its relationship with FTX, meaning the venue where the Miami Heat play will no longer be known as FTX Arena."

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