New FTX CEO Charged Crypto Exchange $690,000 Last Year: Hearing

FTX’s replacement CEO for alleged crypto fraudster Sam Bankman-Fried, John J. Ray III charged the bankrupt exchange $690,000 for his first weeks on the job, according to bankruptcy court hearings Monday.

Ray, an attorney previously known for leading the Enron recovery effort, has been directing FTX’s bankruptcy and its search for billions of dollars in assets owed to creditors.

Ray joined FTX on November 11 2022 and by the end of December had racked up $690,000 in hourly fees, he said it to Judge John Dorsey at the Delaware Bankruptcy Court. He previously told the court he charges $1300 an hour. That price breakdown indicates Ray worked 75 hours a week during his first months on the job – including Christmas.

Jack Schickler contributed reporting.

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