Documents revealed in the ongoing lawsuit filed against FTX founder Sam Bankman-Fried (SBF) have exposed SBF’s reckless spending.
Revealed in Sam Bankman-Fried’s FTX case that started last week detail each day to surprise continues. The last documents presented in the case are SBF’s terrifying financial decisions received and reckless expenses revealed what he did.
According to records, cryptocurrencies are experiencing a bull season 2021 In 2018 and before, SBF made millions of dollars’ worth of deals and literally used the money it had. swung. Within the scope of the sponsorship agreement, favorite game “League of Legends” developer Riot Gamesto and popular music festival To Tomorrowland investing SBF, He made a considerable show of strength.
In the documents, Riot Games from FTX 7 years along about 100 million dollars It was stated that he agreed to buy it. However, the game developer signed this agreement By the end of 2022 He tried to break it. On the other hand, the cryptocurrency exchange is attending the Tomorrowland music festival for sponsorship. 2026 until about $42 million decided to give it.
FTX is also held annually in Southern California, according to the documents. coachella music with the festival also $25 million A worth agreement was signed. Riot Games began attempts to disrupt the agreement after FTX’s bankruptcy.
SBF’s case is still ongoing, and these interesting details that emerge day by day are changing the fate of the founder. to an inextricable point It drags.
Additionally, former FTX executives, including the founder, were detained during the lawsuit. many times with political donations had come to the fore. US prosecutors allege that SBF targeted both Democratic and Republican members of the party. what he did It continues to review donations.