DEVELOPING STORY: FTX used customer funds to support Alameda Research in May.

     

According to three persons familiar with its activities, Sam Bankman-Fried’s trading company, Alameda Research, sustained a string of losses from deals, Reuters reported this morning.

At least $4 billion in FTX money were moved by Bankman-Fried, who secured the transfers with FTT and stock in trading platform Robinhood Markets Inc. (HOOD).

Two of the guys claimed that some of these FTX monies came from consumer deposits. These assets’ exact value could not be ascertained as at the time of filling this report.


     
T.I Ukende

T.I Ukende

T.I Ukende is a professional writer and ICT consultant. He has written many evergreen articles for Benuecast blog, classicgist, ellabase and many others before birthing the newsway blog. Newsway delivers well researched and undiluted information on business, employment opportunities, personal finance and government empowerments.

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T.I Ukende

T.I Ukende

T.I Ukende is a professional writer and ICT consultant. He has written many evergreen articles for Benuecast blog, classicgist, ellabase and many others before birthing the newsway blog. Newsway delivers well researched and undiluted information on business, employment opportunities, personal finance and government empowerments.

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