Exclusive: At least $1 billion of client funds missing at FTX via @AABerwick t.co/k7XllKYPZR
— Jennifer Ablan (@jennablan) November 12, 2022
FTX founder Sam Bankman-Fried allegedly shuffled $10billion in funds to his trading firm Alameda Research, with about $2billion now missing
Sources said that the CEO showed spreadsheets revealing the missing funds from FTX, which along with Alameda declared bankruptcy on Friday
Bankman-Fried denied making the secret transfers to his crypto trading firm, which is run by his girlfriend, Caroline Ellison
He declined to comment about the missing funds and said his firm had ‘confusing internal labeling’
The SEC, which has been criticized for not acting sooner, is investigating FTX’s handling of customer funds, as well its crypto-lending activities