Alameda Provided $1 Billion In Personal Loans To SBF
Sam Bankman-Fried, the former CEO of FTX, acquired a $1 billion personal loan from Alameda one of the four silo firms that played a significant role in the demise of the FTX bitcoin exchange.
John Ray III, the new CEO of FTX, made a formal declaration in the continuing Chapter 11 bankruptcy papers that showed additional financial theft by Bankman Fried.
In accordance with the documentation, Alameda Research gave Bankman-Fried a direct loan of $1 billion and gave $543 million to FTX director of engineering Nishad Singh.
In his initial submission to the Bankruptcy court for the district of Delaware, Ray III, the man in charge of putting the parts back together after the iconic fall of Enron, was harsh. He even went so far as to say that it was the worst thing he had ever experienced in his business career.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
CoinCu News
Author
News
Alameda Provided $1 Billion In Personal Loans To SBF
Sam Bankman-Fried, the former CEO of FTX, acquired a $1 billion personal loan from Alameda one of the four silo firms that played a significant role in the demise of the FTX bitcoin exchange.
John Ray III, the new CEO of FTX, made a formal declaration in the continuing Chapter 11 bankruptcy papers that showed additional financial theft by Bankman Fried.
In accordance with the documentation, Alameda Research gave Bankman-Fried a direct loan of $1 billion and gave $543 million to FTX director of engineering Nishad Singh.
In his initial submission to the Bankruptcy court for the district of Delaware, Ray III, the man in charge of putting the parts back together after the iconic fall of Enron, was harsh. He even went so far as to say that it was the worst thing he had ever experienced in his business career.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Annie
CoinCu News
Other Posts
Related Posts
Latest
Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets
Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6
Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!
Press Release
Sui Foundation Enters into Strategic Partnership with Franklin Templeton Digital Assets
Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6
