Friday, 24 March, 2023

Client Funds Worth at Least $1 B are Missing from FTX

<p>The defunct crypto exchange FTX has lost at least $1B from customer assets. FTX customer funds worth $10B were secretly transferred by Sam Bankman-Fried, the exchange&#39;s founder, to Bankman-trading Fried&#39;s firm Alameda Research, the people told Reuters. They said that a sizable chunk of that sum has subsequently vanished. According to one estimate, the missing funds total almost $1.7 billion.&nbsp;The other stated that there was a $1B to $2B deficit.</p>