Tag: ftx funds

Sam Bankman-Fried Says He Wasn’t Aware of Improper Use of FTX Funds
1Dec By adminNo Comments
Technology

Sam Bankman-Fried Says He Wasn’t Aware of Improper Use of FTX Funds

[ad_1] Bankman-Fried’s fortune at one point reached $26 billion, and just weeks ago he was described as the John Pierpont Morgan of digital assets, willing to use his wealth to bail out the industry. FTX founder Sam Bankman-Fried reiterated that he wasn't aware of any improper transactions involving funds from the exchange and his Alameda Research trading business while his crypto empire collapsed. “I did not know of any improper use of customer funds,” Bankman-Fried said in response to a question during a taped interview on Good Morning America. The comments were the latest by Bankman-Fried from a series of interviews that disavow any improper action. He participated Wednesday at the New York Times DealBook Summit via a video link from the Bahamas. The comments have shed littl...
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FTX Donated $1 Mn to a Super-PAC Linked to Mitch McConnell in October
26Nov By adminNo Comments
Technology

FTX Donated $1 Mn to a Super-PAC Linked to Mitch McConnell in October

[ad_1] FTX US contributed to a super-PAC fighting for control of the Senate in the midterm election just days before the company’s collapse. FTX US, a part of Sam Bankman-Fried's crypto empire that catered to American customers, 's collapse. The Senate Leadership Fund, which is aligned with Senate Republican Leader Mitch McConnell and was the top spender in the 2022 midterms, received the $1 million donation on Oct. 27, according to its most recent filing with the Federal Election Commission. Only a couple of weeks later, more than a 100 FTX-related companies, including the US arm, filed for bankruptcy, and Bankman-Fried resigned as head of the corporate group.  The contributor listed on the FEC donation report is West Realm Shires Services Inc. and FTX US is its commercial name.  The...
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FTX Latest: Police Interview Sam Bankman-Fried; Mystery Outflows
13Nov By adminNo Comments
Technology

FTX Latest: Police Interview Sam Bankman-Fried; Mystery Outflows

[ad_1] A day after Sam Bankman-Fried’s digital-asset empire filed for Chapter 11 protection, the former crypto mogul was interviewed by Bahamian police . A day after Sam Bankman-Fried's digital-asset empire filed for Chapter 11 protection, the former crypto mogul was interviewed by Bahamian police and regulators, according to a person familiar with the matter. Analysts say about $662 million in tokens mysteriously flowed out of both FTX's international and US exchanges. FTX had begun moving some of its assets to offline wallets, and later expedited those moves “to mitigate damage upon observing unauthorized transactions,” according to the US platform's general counsel Ryne Miller.  According to investment materials seen by the Financial Times, FTX Trading International held just $900 ...
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At least $1 billion of client funds missing at failed crypto firm FTX
12Nov By adminNo Comments
Technology

At least $1 billion of client funds missing at failed crypto firm FTX

[ad_1] 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 people told Reuters. 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 people told Reuters. A large portion of that total has since disappeared, they said. One source put the missing amount at about $1.7 billion. The other said the gap was between $1 billion and $2 billion. While it is known that FTX moved customer funds to Alameda, the missing funds are reported here for the first ...
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