iHodl.com
Main page News, scam, FTX

The now-bankrupt cryptocurrency exchange FTX transferred $2.2 billion to its founder Sam Bankman-Fried through different entities, including Alameda Research.

Subscribe to our Telegram channel to get daily short digests about events that shape the crypto world

According to a press release published on Wednesday by the FTX debtors, the collapsed exchange prior to filing for bankruptcy protection had sent a total of $3.2 billion to former top managers, including Nishad Singh, Zixiao "Gary" Wang and Carolina Ellison. Singh received $587 million, while Wang around $246 million. Ellison, who served as CEO of the hedge fund Alameda Research, received only $6 million from FTX.

FTX's SBF Faces 12 New Charges Over 300 Illegal Political Donations

The FTX debtors pointed out the amounts do not include over $240 million the FTX team spent on luxury property in the Bahamas, political and charitable donations, adding that the amount and timing of eventual monetary recoveries "cannot be predicted at this time."

FTX, through subsidiaries including Alameda, invested about $5.3 billion in 475 deals. The amounts ranged from $100 million for Mysten Labs to $1 million in checks for Limit Break or Messari. If convicted, the disgraced crypto entrepreneur could face up to 115 years in prison.

Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange

Read also:
Strawberry Cake Media Corp. © 2024 Cookie Policy Editorial team Archive

ihodl.com is an illustrated edition about cryptocurrencies and financial markets.
Every day we publish the best materials for everyone interested in economy.