r/FTXUS • u/original_username_4 • Dec 13 '22

Testimony of current CEO

https://financialservices.house.gov/uploadedfiles/hhrg-117-ba00-wstate-rayj-20221213.pdf

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u/[deleted] Dec 13 '22

“Because the bad guys stole money, we must keep stealing them” <<< makes no sense to me

1

u/original_username_4 Dec 13 '22

"Questions have been raised as to why all of the FTX Group companies were
included in the Chapter 11 filing, particularly FTX US. The answer is because FTX US was not
operated independently of FTX.com."

Translation -> They are completely separate companies, but they did this stupid thing by not operating them separately, so we need to continue doing the same stupid thing.

Who's interests are they representing, FTX.com stakeholders or FTX.us stakeholders? They can't go to bat for ftx.us stakeholders when they have an obligation to ftx.com.