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Yo_Mama_Been_Loggin

(107,111 posts)
Fri Mar 17, 2023, 04:00 PM Mar 2023

FTX's Sam Bankman-Fried transferred $2.2 billion to his personal account from parts of his crypto em

empire, new bosses say

FTX cofounder Sam Bankman-Fried and five people in his inner circle took more than $3.2 billion from hedge fund Alameda Research and other parts of his crypto empire, according to its new bosses.

Former CEO Bankman-Fried and the FTX employees transferred the money to their personal accounts under the label "payments and loans", FTX's new management said in Wednesday filings to bankruptcy court.

Most of the funds came from Alameda, FTX's sister trading arm, and were transferred before the crypto exchange collapsed in November, they said.

Bankman-Fried picked up about $2.2 billion, while ex-engineer Nishad Singh, FTX cofounder Gary Wang and ex-Alameda CEO Caroline Ellison received $587 million, $246 million and $6 million, respectively, the filings said.

https://www.msn.com/en-us/money/companies/ftx-s-sam-bankman-fried-transferred-2-2-billion-to-his-personal-account-from-parts-of-his-crypto-empire-new-bosses-say/ar-AA18Ibu2
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