The collapse of the cryptocurrency exchange FTX and the loss of billions of dollars in customer funds emerged out of nowhere. So, how much is the FTX billion missing? Let's see.
How Much Is The FTX Billion Missing?
According to Reuters, between $1 billion and $2 billion of customer funds have disappeared from the failed cryptocurrency exchange as Sam Bankman-FTX Fried's seeks bankruptcy protection.
According to Reuters and The Wall Street Journal, Bankman-Fried, who is currently the ex-CEO of FTX, transferred $10 billion in customer funds from his cryptocurrency exchange to the firm that trades digital assets known as Alameda Research.
Much of the $10 billion sent to Alameda "has since disappeared," according to two people speaking with Reuters.
Reuters disclosed that both sources "held senior FTX positions until this week" and added that "they were briefed on the company's finances by top staff."
One source estimated the gap to be $1.7 billion. The other put it at something in the range of $1 billion to $2 billion.
It appears that Reuters reached Bankman-Fried by text message. The former FTX chief wrote that he "disagreed with the characterization" of the $10 billion transfer, adding that, "We didn't secretly transfer."
"We had confusing internal labeling and misread it," the text message read, and when asked specifically about the funds that are allegedly missing, Bankman-Fried wrote, "???"
How Much Is The FTX Billion Missing? - Hopefully, this article can help you to get some knowledge.
