SBF Received $2.2 Billion From Alameda Research, Court Filing Shows

SBF And Top FTX Employees Received $3.2 Bln From Alameda

March 16, 2023 Story: Jai Pratap

Founders and key employees of the collapsed FTX group of crypto firms received $3.2 billion in payments and loans from Alameda, court filing reveals.

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Out of $3.2 billion, $2.2 billion were handed out to Sam Bankman-Fried alone.

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These figures do not include $240 million spent to buy luxury property in the Bahamas, political and charitable donations.

US authorities arrested SBF for trading FTX customers’ funds at affiliated hedge fund Alameda and for personal expenses.

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SBF, who is under house arrest, is awaiting trial after pleading not guilty to a years-long fraud at the helm of the digital-asset exchange.

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On the other hand, Ellison, Wang and Singh have admitted to fraud and are cooperating with federal prosecutors.

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FTX collapsed in November last year, revealing an $8 billion hole in its balance sheet.

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