At least $1bn in investor assets missing after FTX collapse – reports
by Lauren Aratani from Technology | The Guardian on (#65RPT)
Sources tell Reuters funds were part of $10bn founder Sam Bankman-Fried transferred to his hedge fund
Amid the fallout of the implosion of FTX, once the second-largest cryptocurrency exchange, at least $1bn in investor assets appears to be missing, according to multiple reports.
On Saturday morning, Reuters reported that FTX was missing at least $1bn in client funds, according to two anonymous sources who held senior positions at FTX and said they had been briefed on the company's finances. The sources claimed the funds were part of $10bn in client funds that the FTX founder, Sam Bankman-Fried, secretly transferred to Alameda Research, the hedge fund he owns.
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