Follow our live updates from the DealBook Summit.
FTX, the cryptocurrency exchange that Sam Bankman-Fried co-founded, was valued at $32 billion last month.
Since then it has all collapsed. Mr. Bankman-Fried has made a spectacular fall that has rippled across the worlds of business, finance and politics. He was forced to step down as CEO, is under investigation by the Securities and Exchange Commission and the Justice Department, and his company may owe money to more than a million people and organizations.
At a bankruptcy hearing last week, FTX lawyers said a “substantial portion” of the company’s assets had disappeared or been stolen and the exchange had been run as Mr Bankman-Fried’s “personal fief”.
FTX’s new CEO, restructuring expert John Jay Ray III, said in a filing that he had never seen “such a complete failure of the company’s control.” Mr. Ray previously helped manage the aftermath of the Enron implosion.
Andrew Ross Sorkin, the founder of DealBook, interviews Mr. Bankman-Fried on November 30 at 5 p.m. Eastern during the DealBook Summit live event. The interview can be viewed live online for everyone. No question is off limits, and topics may include the company’s collapse, allegations of fraud and mismanagement, and how Mr. Bankman-Fried plans to repay customers, investors and creditors.
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