Bankmanocaust + SVB: Aaaaaaaaand it’s gone

Your funds. They’re gone. Benzinga: Bankrupt cryptocurrency exchange FTX has transferred a whopping $2.2 billion to its founder, Sam Bankman-Fried, and other key employees through various entities. The company’s new management revealed that a total of $3.2 billion was paid to Bankman-Fried and his colleagues, according to a statement filed on Wednesday. These payments were mostly made through Alameda Research, which is owned by Bankman-Fried. For those of you who don’t know the backstory, Der Ewige Bankman owned two corporations, Alameda, and FTX. The scheme he ran wasn’t very complicated. He simply transferred customer funds from FTX to Alameda, and then transferred those funds to himself.  … Continue reading Bankmanocaust + SVB: Aaaaaaaaand it’s gone