The New CEO Has “No Confidence” in FTX’s Balance Sheets
One of the starkest examples of how crazy the financial situation at FTX was is that Ray apparently thinks the FTX books might be…uh, not quite accurate, to put it kindly. Over and over again throughout the filing, Ray gives a brief rundown of what the company claimed to have in assets at one point or another, before ultimately appending a statement like this:
To my knowledge, none of these financial statements have been audited. Because these balance sheets were unaudited…I do not have confidence in them, and the information therein may not be correct as of the date stated.
According to Ray, the company’s financial records just aren’t trustworthy. It’s not clear whether they contain accurate information and whether any of the exchange’s former executives know how much money the company had.
