New York : At least $1 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.The exchange's founder Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to Bankman-Fried's trading company Alameda Research, the
New York : At least $1 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.
While it is known that FTX moved customer funds to Alameda, the missing funds are reported here for the first time. In text messages to Reuters, Bankman-Fried said he"disagreed with the characterization" of the $10 billion transfer. At the heart of FTX's problems were losses at Alameda that most FTX executives did not know about, Reuters has previously reported.
The documents showed that between $1 billion and $2 billion of these funds were not accounted for among Alameda's assets, the sources said. The spreadsheets did not indicate where this money was moved, and the sources said they don't know what became of it.
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