According to Odaily Planet Daily, SBF stated in an interview published on Friday by the news media Mother Jones that his biggest mistake during the $8 billion bankruptcy was handing control of the company to new management—a decision he claimed cost him a last-minute opportunity to save the company. SBF stated that minutes after signing the transfer of control agreement, he received a call about a potential external investment that could save the company from bankruptcy, but it was too late to rescind his signature. It is reported that two days before FTX filed for bankruptcy protection on November 9, Andrew Dietderich, an attorney at the law firm Sullivan & Cromwell (S&C), sent SBF an email proposing a plan to hire Ray as Chief Restructuring Officer. After being appointed as the new CEO, Ray filed for Chapter 11 bankruptcy on November 11, 2022, and hired the law firm S&C to provide legal assistance during the litigation process. (Cointelegraph)