FTX's New CEO and Chief Restructuring Officer Earns $1,300 Per Hour

Nov 21,2022
KingData News: John J. Ray III, FTX's new chief executive officer and chief restructuring officer, was paid $1,300 an hour and billed at least monthly, according to U.S. Bankruptcy Court filings in Delaware. The document states, "The services of John J. Ray III are retained pursuant to an engagement letter (CEO Engagement Letter) between Owl Hill Advisory, LLC and the Debtors. Under the terms of the CEO Engagement Letter, Owl Hill will provide Ray's services as CEO of the Debtors, but Mr. Ray will remain an employee of Owl Hill and the Debtors will pay the current hourly rate of $1,300 per hour under the CEO Engagement Letter."
A financial document disclosed in the media indicates that SBF's Alameda Research has a capital debt situation, with nearly half of its holdings related to FTT and Solana. On November 6, 2022, CZ stated that due to recent revelations, Binance will sell all FTT on its books. This indicator broadcasts updates on FTX-related events.