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No, FTX hasn’t recovered all funds and isn’t restarting soon

FTX is unlikely to restart soon but is assessing the possibility, as it continues to recover funds for creditors.

Court filings reveal the lack of internal controls at FTX

An alarming report produced as part of FTX’s ongoing bankruptcy describes failures in cybersecurity, internal controls, and asset management.

Sam Bankman-Fried, formerly of FTX and Alameda Research, has been indicted for directing at least $40 million in bribes to Chinese officials.

The deal avoids a lengthy legal battle with Modulo and gets around the fact that SBF won’t be available due to ongoing criminal proceedings.

Sam Bankman-Fried relied on a number of trading desks beside Alameda Research to keep his empire functioning.