According to CoinDesk, FTX’s new CEO, John J. Ray III, has sharply condemned former FTX CEO Sam Bankman-Fried’s mismanagement during his tenure in a series of documents submitted to the Delaware court. John J. Ray III stated, “Never in my career have I seen such an utter failure of corporate controls and complete lack of credible financial information. From compromised system integrity and faulty overseas regulation, to The concentration of control in the hands of a very small number of inexperienced, unsophisticated and potentially compromised individuals is unprecedented."