FTX 3.2 billion to the goodfellas! – ThePlatform

FTX 3.2 billion to the goodfellas!

FTX, the cryptocurrency company founded by Sam Bankman-Fried, has come under scrutiny after more than $3.2 billion in payments and loans were identified by caretaker management.

The transactions, primarily made through Bankman-Fried’s hedge fund, Alameda Research, included $2.2 billion to the founders and key employees of FTX. Other payments and loans included $587 million to FTX’s former director of engineering, $246 million to the co-founder and former CTO, $87 million to the former FTX Digital Markets chief, $25 million to the former co-CEO of Alameda Research, and $6 million to the former co-CEO of Alameda Research.

FTX also spent $240 million to buy luxury property in the Bahamas, and made political and charitable donations directly. In addition, substantial transfers were made to non-Debtor subsidiaries in the Bahamas and other jurisdictions. The total amount does not include assets already in control of FTX Debtors or government authorities cooperating with them. However, the company said it cannot currently predict the amount and timing of eventual recoveries.

It is worth noting that many politicians attacking the crypto markets today could be the same ones who received donations from FTX. The company is currently investigating actions it can take against the people who received the funds and their subsequent transferees. FTX is continuing to investigate and expects to identify more assets, liabilities, and transfers.

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