Ex-FTX boss and co-founder Sam Bankman-Fried received $2.2 billion in payments and loans, mostly from Alameda Research, according to a Wednesday announcement from the failed exchange’s new management. This is an extremely large sum in comparison to the $6 million received by former Alameda CEO Caroline Ellison and the $3.2 billion total payouts to ex-FTX staff. The company’s sudden bankruptcy was due to Bankman-Fried’s risky bets with customer cash, and he is now facing 12 criminal charges in the United States. His inner circle has all admitted to fraud and are now cooperating with investigators. Unfortunately, billions of dollars in FTX client cash is still missing and a large amount is presumed stolen. This is bad news for the crypto community, and a reminder that caution and diligence should be taken when trading digital assets. #Crypto #Fraud #FTX #SamBankmanFried #CryptoScam
You can read more about this topic here: Decrypt: Sam Bankman-Fried Was Paid $2.2B Mostly From Alameda—Ex-CEO Caroline Ellison Only $6M
