The guy who took Enron through bankruptcy is now boss of FTX and has never seen ‘such a complete failure’

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The crypto exchange FTX collapsed into bankruptcy last week (opens in new tab), after a liquidity crisis exposed a financial black hole that no-one yet knows the full extent of. As the recriminations begin in the crypto world, the man who’s been charged with overseeing FTX’s bankruptcy, and working out just what this company has been up to, reckons this is even worse than Enron.

And he should know. John Ray III has over 40 years’ experience of legal restructuring, including being CEO of…

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