TechFlow, October 4 — According to Cointelegraph, in an interview published Friday by the media outlet Mother Jones, SBF stated that his biggest mistake during the $8 billion collapse was handing over company control to new management—a decision he claims deprived him of the chance to save the company at the last moment. SBF said that just minutes after signing the agreement to transfer control, he received a call indicating a potential external investment that could have rescued the company from bankruptcy, but it was already too late to revoke his signature. It is reported that two days before FTX filed for bankruptcy protection on November 9, Andrew Dietderich, a lawyer from Sullivan & Cromwell (S&C), sent an email to SBF proposing a plan that included appointing Ray as Chief Restructuring Officer. After being appointed as the new CEO, Ray filed for Chapter 11 bankruptcy on November 11, 2022, and engaged law firm S&C to provide legal assistance during the proceedings.
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