FTX, the bankrupt crypto exchange, plans to prevent its key staff from quitting their jobs with a $4M bonus program.
The
bonuses aim to keep staff with crucial skills and institutional
knowledge, including those good at accounting practices or programming
languages such as Python, Rust, and Flutter.
- The proposal was disclosed through court documents filed on March 7.
- A Delaware court hearing will discuss the plan on March 29.
- The bonuses will range between 17% and 94% of the salaries.
- The company's directors, officers, or any staff believed to be involved in wrongdoing will not receive any bonus.
- FTX recently revealed that $8.9B of customer funds were missing in a public presentation.
- At
the time, John J. Ray III, Chief Restructuring Officer of the FTX
Debtors, complained about inadequate record-keeping in the company by
stating that these figures were still preliminary and subject to change
since FTX's books and records are incomplete and, in many cases, totally
absent.
