<p>Wassielawyer, a lawyer specializing in restructuring and insolvency, explains the first declaration from new FTX CEO John Ray in the company’s bankruptcy case. </p><p></p><h3>Show highlights:</h3><ul>
<li>why CEO Ray said there's been a complete failure of corporate controls in FTX</li>
<li>how there was no separation of accounts between Alameda and FTX</li>
<li>whether FTX US customers are in a better position to recuperate their assets</li>
<li>why FTX's Bahamas unit is seeking protection under chapter 15 of the US bankruptcy code</li>
<li>why there's a jurisdictional battle, according to Wassie</li>
<li>whether the Bahamian government is responsible for letting deposits out of the platform</li>
<li>how former CEO Sam Bankman-Fried is trying to save the company </li>
</ul><p></p><h3><a href="https://www.surveymonkey.com/r/unchained2022">Take Unchained's 2022 survey!  </a></h3><p>Unchained is doing its<a href="https://www.surveymonkey.com/r/unchained2022"> annual survey</a>. Tell us how you think we’re doing and how we could improve, whether it be on the podcast, in the newsletter, or in our premium offering. Looking forward to hearing your thoughts! </p>Thank you to our sponsors!<p><a href="https://crypto.onelink.me/J9Lg/unconfirmedcardearnfeb2021">Crypto.com</a></p><p><a href="https://www.avax.network/">Ava Labs</a></p><p><a href="https://defisaver.com/">DeFi Saver</a></p><p></p>Wassielawyer:<ul>
<li><a href="https://twitter.com/wassielawyer">Twitter</a></li>
<li><a href="https://twitter.com/wassielawyer/status/1591387741224599552?s=20&t=6DdrwktD_zoKBDAAheknTg">Thread on community buyout</a></li>
<li>Previous Unchained episodes:</li>
<li><a href="https://unchainedpodcast.com/will-ftx-customers-ever-recover-their-assets-two-insolvency-experts-weigh-in-ep-420/">Will FTX Customers Ever Recover Their Assets? Two Insolvency Experts Weigh In</a></li>
<li><a href="https://unchainedpodcast.com/why-the-messy-3ac-celsius-and-voyager-bankruptcies-will-drag-on-for-years-ep-377/">Why the Messy 3AC, Celsius, and Voyager Bankruptcies Will Drag on for Years</a></li>
<li><a href="https://unchainedpodcast.com/three-crypto-bankruptcies-3ac-celsius-and-voyager-what-happens-now-ep-374/">Three Crypto Bankruptcies: 3AC, Celsius and Voyager. What Happens Now?</a></li>
</ul><p></p><p></p><h3>Episode Links</h3>Previous coverage of Unchained on FTX:<ul>
<li><a href="https://unchainedpodcast.com/the-chopping-block-why-lenders-didnt-liquidate-alameda-when-it-was-underwater-ep-421/">The Chopping Block: Why Lenders Didn’t Liquidate Alameda When It Was Underwater </a></li>
<li><a href="https://unchainedpodcast.com/erik-voorhees-and-cobie-on-why-ftx-loaned-out-customers-assets-ep-419/">Erik Voorhees and Cobie on Why FTX Loaned Out Customers’ Assets</a></li>
<li><a href="https://unchainedpodcast.com/the-chopping-block-ftx-the-biggest-collapse-in-the-history-of-crypto-ep-418/">The Chopping Block: FTX: The Biggest Collapse in the History of Crypto?</a></li>
<li><a href="https://unchainedpodcast.com/sam-bankman-fried-on-how-to-prevent-the-next-terra-and-3ac-ep-403/">Sam Bankman-Fried on How to Prevent the Next Terra and 3AC</a></li>
</ul><p></p>FTX Collapse:<ul>
<li><a href="https://pacer-documents.s3.amazonaws.com/33/188450/042020648197.pdf">First declaration document</a></li>
<li>
<a href="https://twitter.com/FTX_Official/status/1591071832823959552?s=20&t=przGRsNEd00RUtpTEtzFKA">FTX filed for Chapter 11 bankruptcy protection</a>.</li>
<li><a href="https://unchainedpodcast.com/ftx-wasnt-authorized-to-file-for-us-bankruptcy-bahamas-liquidators/">FTX Wasn’t Authorized to File for US Bankruptcy: Bahamas Liquidators</a></li>
<li><a href="https://www.vox.com/future-perfect/23462333/sam-bankman-fried-ftx-cryptocurrency-effective-altruism-crypto-bahamas-philanthropy">Vox interview with SBF</a></li>
</ul><p></p><p> </p><p>Learn more about your ad choices. Visit <a href="https://megaphone.fm/adchoices">megaphone.fm/adchoices</a></p>

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Did the Bahamian Government Direct SBF and Gary Wang to Hack FTX? - Ep. 422

Unchained