Embattled Crypto Exchange FTX Lent Billions in Customer Assets To Fund Alameda Research: Report

Embattled Crypto Exchange FTX Lent Billions in Customer Assets To Fund Alameda Research: Report


A new report claims that troubled crypto exchange platform FTX lent billions of dollars worth of its customers’ assets to fund its quantitative trading branch.

According to The Wall Street Journal, FTX CEO and founder Sam Bankman-Fried told investors that Alameda Research owes FTX about $10 billion worth of customer funds.

The source says that Bankman-Fried gave out loans to Alameda Research using $10 billion out of the $16 billion in customer deposits FTX had, a move the CEO described as a “poor judgment call.”

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Bankman-Fried, who was also the CEO of Alameda Research until last year, apologized earlier today to his 930,000 Twitter followers in a lengthy thread, vowing that if FTX were to survive and continue, it would be incredibly transparent.

He also

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