Sam Bankman-Fried, the former CEO of FTX, which went bankrupt according to the new scandal that emerged, invested a large amount in a small bank in the USA months ago.
FTX scandals are endless. The scandals got worse when the crypto money company FTX, founded by former CEO Sam Bankman-Fried, went bankrupt, gave 300 million dollars worth of houses to their relatives, and people could not withdraw their money from the platform.
Another scandal has emerged. This time the scandal really reveals that FTX is a scam platform. Earlier this year, Sam Bankman-Fried, former CEO of FTX, invested in a bank twice the value of the bank.
Sam Bankman-Fried invests $11.5 million in Farmington State Bank
The so-called bankrupt ex-CEO Sam Bankman-Fried, according to the scandal that emerged, to the Farmington State Bank (26th smallest bank in the USAi) full He invested 11.5 million dollars. You see the photo of the bank, this amount is almost twice the value of the bank.
Oddly enough, this tiny tiny bank had only 3 employees before SBF invested and only served a small town of 146 people. In the past 10 years, the bank He had a deposit of 10 million dollars and generally provided agricultural loans.
RELATED NEWS
Amazon Is Making A Series Of The FTX Exchange, Which Has Not Been Forty Yet: Here Are All The Details!
After Sam Bankman’s investment earlier this year, deposits are only in 4 bank accounts jumped to $84 million. The $11.5 million invested in an interview with the bank was for only 10% of the bank. The bank’s deposits were $10 million while its value was $115 million.
When all this is put together, Sam Bankman saw months ago what would happen, and he started to work on self-assurance is being considered. Of course, there are also those who say that this place is used as a money laundering point.
Source :
https://protos.com/the-curious-case-of-ftx-and-farmington-state-bank-aka-moonstone/