 I'm sorry. That's the biggest thing.I fucked up, and should have done better.— SBF (@SBF_FTX) November 10, 2022 In a subsequent examination, FTX legal and finance teams also learned that Bankman-Fried implemented a){kind=link}
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.