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SHOCKING: On Easter Sunday FTX CEO Releases Its Evaluation of FTX’s Lack of Cyber, Monetary, and Inner Accounting Controls | The Gateway Pundit

On Easter Sunday the present CEO of FTX launched its evaluation of FTX’s lack of cyber, monetary, and inner accounting controls.  What a multitude it’s. 

The CEO of FTX launched a report on Easter Sunday of the mess that FTX was in when the corporate fell into chapter 11.  This cryptocurrency change noticed billions of {dollars} fly threw its accounts and God solely is aware of who was behind the transactions and who was receiving the transactions.

Bob Bishop unraveled the outcomes of the present CEO’s Easter report on Twitter.

56 entities inside FTX didn’t produce financials. Quite a few entities used QuickBooks as their accounting software program.

Checks to be deposited had been handled like unsolicited mail. Quite a few checks grew to become stale and had been by no means cashed. Quite a few accounts had been created that would have been used to launder cash.

Quite a few entities may borrow cash from the corporate and Alameda Group may borrow as much as $65 billion.

Cybersecurity points had been ignored by administration at FTX. Accounts may simply be hacked.

Cyber threats had been actual and the corporate didn’t implement controls to deal with these threats.

The doc launched ought to be in each accounting curriculum to show college students find out how to not management an organization.



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