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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.

Alameda Provided $1 Billion In Personal Loans To SBF 2

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.

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Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.