The Process That Dumped FTX: CEO Raised $4 Billion in Customer Assets for Alameda

It is alleged that FTX’s CEO, Sam Bankman Fried, transferred $ 4 billion in funds to save Alameda Research without informing other FTX executives, and these funds also included assets belonging to users.

Struggling with the liquidity crisis, FTX continues to search for funds, while data on the background of the process started to emerge in the past days. To raise funds for the stock market, first from the Wall Street and Silicon Valley teams 1 billion dollar request found CEO Bankman Friedafter his request was denied Binance He asked for help from many exchanges, including. Finally, after it was understood yesterday that Binance would do nothing to save FTX, it was activated. TRON founder Justin Sun entry.

According to an exclusive report by Reuters, Bankman-Fried is committed to saving Alameda. at least $4 billion in FTX funds conveyed. FTX in said fund including personal assets of investors claimed. The continuation of the allegations was that Bankman-Fried did not inform other FTX executives of this move to save Alameda.

In a private letter to his employees on 8 November, Bankman Fried said:Sorry, I messed everything up.” he had stated. Within the scope of the events, while the investigations by the US Securities and Exchange Commission (SEC) continue, the fate of the stock market and its founder Bankman-Fried remains unclear.

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