HomeBusiness$1 billion in customer funds disappear from FTX, report says.

$1 billion in customer funds disappear from FTX, report says.

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By lapaasindia
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  • FTX, a bankrupt cryptocurrency exchange, has lost at least $1 billion in customer assets, according to a Reuters story citing two people with knowledge of the situation.
  • Former CEO Sam Bankman-Fried of the exchange allegedly transferred $10 billion in customer cash covertly from FTX to Bankman-trading Fried’s firm Alameda Research, according to the sources who spoke with Reuters.
  • On Friday, FTX filed for bankruptcy.

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