$2BN of clients’ money is MISSING from collapsed crypto exchange FTX

$2BN of clients’ money is MISSING from collapsed crypto exchange FTX: Founder Sam Bankman-Fried denies secretly transferring $10BN to trading company run by his girlfriend

  • FTX founder Sam Bankman-Fried allegedly shuffled $10billion in funds to his trading firm Alameda Research, with about $2billion now missing 
  • Sources said that the CEO showed spreadsheets revealing the missing funds from FTX, which along with Alameda declared bankruptcy on Friday 
  • Bankman-Fried denied making the secret transfers to his crypto trading firm, which is run by his girlfriend, Caroline Ellison 
  • He declined to comment about the missing funds and said his firm had ‘confusing internal labeling’ 
  • The SEC, which has been criticized for not acting sooner, is investigating FTX’s handling of customer funds, as well its crypto-lending activities

By Ronny Reyes For Dailymail.Com

Published: 22:35 EST, 11 November 2022 | Updated: 03:01 EST, 12 November 2022

About $2billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.

Founder and CEO Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to the trading company Alameda Research, which is run by his girlfriend Caroline Ellison, Reuters reports.

A large portion of that total has since disappeared, they said. One source put the missing amount at about $1.7 billion. The other said the gap was between $1 billion and $2 billion.

To continue at original source;

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