Nathan Howard / Stringer
- FTX's new CEO John J. Ray III charged the crypto exchange $690,000 last year.
- Ray is a long-time Wall Street restructuring exec who oversaw Enron's bankruptcy process.
- Ray said in a congressional testimony that FTX was running an "old-fashioned embezzlement."
FTX's new CEO John J. Ray III charged the failed crypto exchange $690,000 for just under two months of work steering the collapsed exchange through bankruptcy, he told a Delaware judge on Monday.
From November 11 through the end of December, Ray racked up $690,000 in hourly fees after disgraced FTX founder Sam Bankman-Fried resigned as chief executive officer and filed for chapter 11 bankruptcy protection. He has been tasked with overseeing FTX's bankruptcy process in an attempt to recover billions of dollar worth of funds to pay back customers and creditors.