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Media outlets, including SlashBeats, have also reported on John J. Ray III, the exchange’s new CEO, an insolvency expert tasked with sorting out the mess.

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According to CoinDesk’s anonymous sources, Ellison and Bankman-Fried were romantically involved at various points during their working relationship.

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SBF was “cagey” about details in his businesses, a habit that has since backfired. As of October 2021, she was co-CEO and sole owner.

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Dragonfly’s money would only be accepted if it supported Alameda’s new cryptocurrency exchange, the nascent FTX. Pack stated: