curry, tom brady, gisele, larry david, but in reality the s.e.c. says ftx was just a house of cards and john ray, the new ceo told lawmakers in congress today that this company was basically a big mess. it was a dumpster fire. it had no internal controls and so now ray has spent the last month trying to comb through the rubble, trying to find where the assets are and do his best to maximize recovery, but we know that money is going to be lost here by real people. ray said probably in the billions, i know i ve spoken to some crypto traders who lost thousands or tens of thousands of dollars in this ftx situation and ray didn t really sound all that optimistic going forward. he said that he told lawmakers at the end of the day ftx won t be able to recover all of the losses here. ana. matt, kara, thank you. we re following a massive
Besides dangling the opportunity to get rich quickly, one of the biggest attractions for crypto traders was the ability to profit from wild price swings. Now with volatility all but gone at least for now both professionals and amateurs are altering their strategies as the crypto winter drags on.