Multi-Billion Dollar Fraud In FTX Failure Looks An Awful Lot Like Enron
Two people familiar with the matter say 1 billion dollars of customer funds have vanished from collapsed crypto exchange FTX. Reuters reported that FTX founder Sam Bankman-Fried transferred $10 billion of customer funds to Alameda Research, his trading company. Approximately $1.7 billion of that total has disappeared, one source said. Another said the missing amount was between $1 billion and $2 billion. For the first time, FTX is reporting missing funds, despite moving customer funds …