Sam Bankman-Fried Describes Alameda Research As 'Unauditable' And 'Beyond Any Threshold' In New FTX Interim Report

The new management of FTX on Sunday released the first interim report on the cryptocurrency exchange’s control failures.   What Happened: The 45-page report highlights FTX’s disorganized record-keeping, nonexistent cybersecurity defenses and lack of expertise in crucial areas such as finance.