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HomeSourcesmetro.co.uk$1,000,000,000 in client funds missing at failed crypto firm FTX

$1,000,000,000 in client funds missing at failed crypto firm FTX

NEWS… BUT NOT AS YOU KNOW IT

At least $1 billion of customer funds have vanished from the collapsed crypto exchange FTX.

The third largest crypto exchange with one million users, came crashing down last week after a $6 billion hole in the exchange’s balance sheet prompted it to file for bankruptcy.

The exchange’s founder Sam Bankman-Fried had secretly transferred $10 billion of customer funds from FTX to Bankman-Fried’s trading company Alameda Research, as reported by Reuters.

A large portion of that total, anywhere between $1 billion and $2 billion has since disappeared.

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