New FTX CEO says lax oversight, bad decisions caused failure


              Crypto exchange FTX CEO John Ray, testifies before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, Dec. 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)
            
              Crypto exchange FTX CEO John Ray, right, shakes hands with committee member Rep. Al Green, D-Texas, as he arrives to testify before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, Dec. 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)
            
              Crypto exchange FTX CEO John Ray, arrives to testify before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, Dec. 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)
            
              Crypto exchange FTX CEO John Ray, testifies before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, Dec. 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)
            
              Crypto exchange FTX CEO John Ray, testifies before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, Dec. 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)
            
              Crypto exchange FTX CEO John Ray, testifies before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, Dec. 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)
            
              Crypto exchange FTX CEO John Ray, testifies before the House Financial Services Committee on the collapse of crypto exchange FTX, Tuesday, Dec. 13, 2022, on Capitol Hill in Washington. (AP Photo/Manuel Balce Ceneta)
New FTX CEO says lax oversight, bad decisions caused failure