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- 🎉 Hey Gate Square friends! Non-stop perks and endless excitement—our hottest posting reward events are ongoing now! The more you post, the more you win. Don’t miss your exclusive goodies! 🚀
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Only 1 day left! Your favorite creator is one vote away from TOP 10. Interact on Square to earn Votes—boost them and enter the prize draw. Prizes: iPhone 16 Pro Max, Golden Bull sculpture, Futures Vouchers!
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Post your - 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
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1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ - 💙 Gate Square #Gate Blue Challenge# 💙
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August 11 – 20, 2025
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3. Add a short blessing or message for Gate in your content (e.g., “Wishing Gate Exchange continued success — may the blue shine forever!”).
4. Submissions must be original and comply with community guidelines. Plagiarism or re - 🎉 The #CandyDrop Futures Challenge# is live — join now to share a 6 BTC prize pool!
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Dare to trade. Dare to win.
New FTX CEO: FTX has been lying to banks about mixed funds
Author: Mat Di Salvo, Decrypt; Compiler: Songxue, Jinse Finance
Back in 2020, FTX's former management lied to the bank about suspicious movements of client cash, the new FTX CEO claims in an explosive new report.
John J. Ray III’s Monday court filing states that while FTX Group portrays itself as “the vanguard of client protection efforts in the cryptocurrency industry,” it allegedly deliberately mixed client and company funds in order to snap up luxury real estate and to Sister company Alameda Research conducts speculative transactions.
FTX's newly appointed CEO, John J Ray III, oversaw the liquidation of Enron. Image: House Financial Services Committee
When the banks pressured FTX management over the flow of funds, “FTX failed to tell the truth to the banks.” Ray alleges: “Not only has it done so, but it has actually been using Alameda for nearly a year. Account for FTX.com client trades - FTX Group lied."
FTX is a digital asset exchange that allows people to buy, sell and bet on cryptocurrencies. But prosecutors say the company's mismanagement led to its unexpectedly swift bankruptcy in November 2022.
The exchange’s management — previously described by Ray as “very inexperienced and immature” — allegedly misappropriated $8.7 billion in client funds.
Former FTX boss and co-founder Sam Bankman-Fried, a former Jane Street trader and MIT graduate who courted politicians and celebrities, last year After his arrest, he now faces 13 criminal charges.
The charges include conspiracy to commit wire fraud, conspiracy to defraud the United States, campaign finance violations and bribery.
A new lawsuit was filed last week alleging that Bainfried spent $700 million trying to buy influence from "super Internet personality" Michael Kives. Michael Kieves is a Hollywood agent turned investor and former aide to Hillary Clinton.
Ray is an experienced attorney who recovers lost funds from FTX clients. He has previously said that although he handled the collapse of energy company Enron, one of the largest corporate failures in history, in 2001, he had never seen such chaos.
In Monday's report, he added that while there were "challenges" in tracking the allegedly misappropriated funds, his team had managed to recover "approximately $7 billion in liquid assets" and expected to recover more.