The then-chief executive of hedge fund Alameda Research sent a text saying that she was worried that everyone was going to quit and take time off.
Ellison reportedly sent a text to a group chat with Ryne Miller, a top lawyer at FTX, after FTX faced a run on customer deposits in the wake of a report.
Insider requested comment on time before publication, but Alameda Research did not reply.
The day-to-day chaos that unfolded inside FTX as its executives scrambled to save the exchange is reflected in many exchanges.
According to Insider, on the day Ellison sent the text, another company signed a non-binding agreement to acquire FTX. Government investigations and news reports on the misuse of customer funds were cited as the reason for the walk away from the deal.
The exchange was reviewed by the Times. We can't continue this deal. There are a lot of issues. Cz.
Miller responded to Ellison's "sweating-face" text by saying that FTX needs a professional manager with decision-making authority.
FTX filed for Chapter 11 reorganization. FTX faced a complete failure of corporate controls, according to the company's new CEO. In his 40 years of handling bankruptcies, he has never seen a company as bad as this one.
Around 130 companies associated with FTX filed for bankruptcy.