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New FTX CEO Paid $1,300 an Hour, Court Filings Show

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John Ray, the seasoned expert brought in to tidy up the wreckage of collapsed crypto exchange FTX, is billing $1,300 per hour for his trouble, court documents filed on Sunday show.

Restructuring experts are seeking to carry on paying senior staff wages, despite a freeze on company funds and a lack of clear records about who is owed what. Legal documents filed over the weekend at the U.S. Bankruptcy Court for the District of Delaware ahead of the first hearing on Tuesday shed more light on the insolvency proceedings.

(By Jack Schickler)

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