/ Published in Market Update

Reuters Exclusive: At least $1 billion of client funds missing at FTX

roll of american dollar banknotes tightened with band
  • FTX founder Bankman-Fried secretly moved $10 billion in funds to trading firm Alameda – sources
  • Bankman-Fried showed spreadsheets to colleagues that revealed shift in funds to Alameda – sources
  • Spreadsheets indicated between $1 billion and $2 billion in client money is unaccounted for – sources
  • Executives set up book-keeping “back door” that thwarted red flags – sources
  • Whereabouts of missing funds is unknown – sources

https://www.reuters.com/markets/currencies/exclusive-least-1-billion-client-funds-missing-failed-crypto-firm-ftx-sources-2022-11-12/?utm_source=Sailthru&utm_medium=Newsletter&utm_campaign=Weekend-Briefing&utm_term=Weekend%20Briefing%20Target%20Audience

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