11-11-2022, 07:07 AM
Sam Bankman-Fried previously transferred at least $4 billion in FTX funds to support
<!-- SC_OFF --><div class="md"><p>Sam Bankman-Fried previously transferred at least $4 billion in FTX funds to support Alameda, including user deposits, Reuters reports. </p> <p>Seeking to prop up Alameda, which held almost $15 billion in assets, Bankman-Fried transferred at least $4 billion in FTX funds, secured by assets including FTT and shares in trading platform Robinhood Markets Inc, the people said. Alameda had disclosed a 7.6% share in Robinhood that May.</p> <p>A portion of these FTX funds were customer deposits, two of the people said, though Reuters could not determine their value.</p> <p>Bankman-Fried did not tell other FTX executives about the move to prop up Alameda, the people said, adding he was afraid that it could leak.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Snowflake8050"> /u/Snowflake8050 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yra5az/sam_bankmanfried_previously_transferred_at_least/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yra5az/sam_bankmanfried_previously_transferred_at_least/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>Sam Bankman-Fried previously transferred at least $4 billion in FTX funds to support Alameda, including user deposits, Reuters reports. </p> <p>Seeking to prop up Alameda, which held almost $15 billion in assets, Bankman-Fried transferred at least $4 billion in FTX funds, secured by assets including FTT and shares in trading platform Robinhood Markets Inc, the people said. Alameda had disclosed a 7.6% share in Robinhood that May.</p> <p>A portion of these FTX funds were customer deposits, two of the people said, though Reuters could not determine their value.</p> <p>Bankman-Fried did not tell other FTX executives about the move to prop up Alameda, the people said, adding he was afraid that it could leak.</p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/Snowflake8050"> /u/Snowflake8050 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yra5az/sam_bankmanfried_previously_transferred_at_least/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/yra5az/sam_bankmanfried_previously_transferred_at_least/">[comments]</a></span>