Definitely a Culture of 'Hubris, Incompetence and Greed' at FTX and Alameda, New Report Shows

As the investigation into what exactly happened at crypto exchange FTX and the criminal activity that was happening behind the scenes under the leadership of entrepreneur Sam Bankman-Fried, a new report is out detailing just how chaotic and aimless any real leadership was at the firm.

In a Sunday report first covered by the Wall Street Journal that is now circulating to other news outlets, FTX’s chief executive, John J. Ray III, wrote that “FTX’s rapid November collapse was the result of ‘hubris, incompetence and greed.'”

Via the report from FTX: