Sam Bankman-Fried’s Alameda Quietly Used Ftx Customer Funds Without Raising Alarm Bells, Say Sources

  • Posted on November 14, 2022
  • News
  • By FC Team
  • 201 Views

KEY POINTSAlameda Research, a trading firm founded by Sam Bankman-Fried, was trading billions of dollars from FTX accounts and leveraging the exchange’s native token as collateral, according to a source.Many employees and outside auditors were unaware that FTX did not have enough money to match customer withdrawals, the source says.Three sources familiar with the company told CNBC that they were blindsided by FTX’s missteps and that only a small cohort knew about the potential misuse of customer deposits.The quant trading firm Sam Bankman-Fried founded was able to quietly use customer funds from his exchange FTX in a way that flew under the radar of investors, employees and auditors in the process, according to a source.The way they did it was by using billions from FTX users without their knowledge, says the source.CNBC.com

Author
No Image
manager

FC Team

No description...

You May Also Like