FTX’s lawyers said the bankruptcy revealed “the emperor had no clothes.”
Under Bankman-Fried’s watch, “substantial amounts of money were spent on things not related to the business,” Bromley stated.
When confronted with the records, a spokesperson for Bankman-Fried’s parents said they intend to return the property. FTX’s lawyers said the cryptocurrency platform has suffered “substantial” losses to its remaining assets due to a series of cyberattacks.
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