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cryptonews

2022-11-11 10:12:00

FTX Used $10 Billion of Customer Funds to Prop Up Alameda Research, Lost it All – What Happens Next?

FTX Used $10 Billion of Customer Funds to Prop Up Alameda Research, Lost it All – What Happens Next?

Sam Bankman-Fried’s troubled cryptocurrency exchange FTX lent billions of dollars in user funds to its sister company Alameda Research to fund risky bets. According to a recent report by The Wall Street Journal, the exchange provided up to $10 billion in loans using money that customers had deposited. Since FTX had $16 billion in customer assets, the exchange had lent more than half of its customer funds. ... Read More: FTX Used $10 Billion of Customer Funds to Prop Up Alameda Research, Lost it All – What Happens Next?

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