New FTX CEO John J. Ray III Facing SEC Charges For Insider Trading?

Who is new FTX CEO John J. Ray III: While the crypto market responds negatively to the FTX bankruptcy announcement, the onus is now on the new FTX CEO John J. Ray III to deliver. Earlier, the FTX group had in an announcement said Sam Bankman-Fried has resigned from his role as CEO. The crypto market is largely down following the bankruptcy as it brings down curtains for a week of chaos around FTX.

New FTX CEO Facing SEC Charges?

According to a report from the U.S. Securities and Exchange Commission, John J. Ray III is registered for insider trading. The name John J. Ray III  is registered with the charges on account of lack of financial disclosures while being in responsible positions. The report mentions that the new FTX CEO traded stocks belonging to three companies while serving in roles requiring financial disclosures. The main charge is that John J. Ray III was an insider of a company while he traded its own stock.

On another occasion, Ray is charged for insider trading as he traded the stocks of a company while he was serving as its director.

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

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