Sam Bankman-Freid, the founder of the recently bankrupt crypto exchange FTX, $10 billion would have secretly transferred it to his own commercial company, Alameda Research. A significant portion of the money transferred is currently missing, sources close to the company told Reuters.

While the amount of the loss varies in the claims of two different names close to the company, a source says that between $1-2 billion was lost. The other source is the amount of loss. $1.7 billion states that it is.

Don’t just transfer money somewhere else

Under normal circumstances, even if the stock market is drained by the transfer of funds by FTX to another institution, money can be found at the point where the funds are transferred. There are also shortcomings in the money transferred according to the new development. of money where is it is uncertain for the time being.

This lost money in between, Bankman-Fried’s It came to light after he shared his financial records with other senior executives. Two people explaining the situation also state that they previously served on FTX’s board of directors and that this shared information is up-to-date.

Bankman-Fried said $10 billion in money transfer mistranslated. While he claimed the transfer was not made in secret, he said the statements they used could be misunderstood. When asked about the amount lost, “???” gave the answer. There is also no statement from FTX and Alameda.

Binance Statement Reaches FTX

earlier Binance In a statement from its CEO, Changpeng Zhao, it was stated that the giant exchange could sell $580 million worth of digital FTX tokens “in light of new developments.” After this statement, the users of the exchange who tried to withdraw their money left the exchange in a difficult situation. Unbeknownst to many FTX executives, the stock market could not survive as the funds were transferred to Alameda and eventually declared bankruptcy.

Researchers found that FTX legal and finance departments Claiming it created a deficit, this deficit allowed money to be transferred between the two firms without being caught by internal and external auditors, Bankman-Fried objected to these claims. At this point, legal authorities are beginning to investigate how the company uses both crypto business and customer deposits. John J. Ray III was appointed head of the firm. Ray was also tasked with liquidating the company’s assets following the bankruptcy of Enron Corp, one of the largest bankruptcies in history.