FTX CEO: FTX and Alameda have not segregated assets, and are still investigating the purpose and whereabouts of Alameda’s $1 billion loan to SBF

At the hearing of the U.S. House of Representatives Financial Services Committee on the FTX mine explosion, John J. Ray III, FTX’s new CEO and Chief Restructuring Officer, said when talking about the asset isolation and risk control of FTX and Alameda Research, “There is no internal control. There is no asset segregation.” John J. Ray III said that he is still investigating the purpose and whereabouts of the $1 billion loan loaned to SBF by Alameda Research.