New FTX_Official CEO John Ray is billing $1,300 an hour as he attempts to wind up the defunct crypto exchange – but his fees may pale in comparison to the overall costs of corporate restructuring. By jackschickler
, is billing $1,300 per hour for his trouble, court documents filed on Sunday show.
Continued payment of salaries “is necessary for the preservation of the resources and value" of the FTX estate, said the filing by Edgar Mosley, managing director at restructuring consultancy Alvarez & Marsal. “Without it, I believe that even more employees may seek alternative employment opportunities … likely, diminishing stakeholder confidence in the Debtors’ ability to successfully reorganize.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
FTX will sell or restructure global empire, CEO saysFTX’s new CEO says the bankrupt crypto exchange is looking to sell or restructure its global empire.
Read more »
FTX collapse won't impact everyday use of crypto in Brazil: Transfero CEOThe collapse of FTX may have hurt investor sentiment in Brazil, but it won't change everyday citizens who use crypto for cross-border transactions and inflation hedging.
Read more »
Carol Roth on Dems' ties to FTX CEO: This is 'really concerning'Former investment banker Carol Roth weighs in on FTX CEO Sam Bankman-Fried's relationship with Democrat leaders, such as Rep. Maxine Waters on 'The Evening Edit.'
Read more »
FTX Will Sell Or Restructure Global Empire, CEO SaysFTX’s new CEO said on Saturday that the bankrupt crypto exchange is looking to sell or restructure its global empire.
Read more »
FTX hacker dumps 50,000 ETH, still among top 40 Ether holdersThe FTX hacker drained nearly $447 million out of multiple FTX global and FTX.US exchange wallets just hours after the crypto exchange filed for Chapter 11 bankruptcy on Nov. 11.
Read more »