FTX exposed of $1.2 billion



by   |  VIEW 213

FTX exposed of $1.2 billion

FTX would be exposed to $1.2 billion. Bankrupt crypto lending firm BlockFi mistakenly uploaded uncensored financial data, revealing $1.2 billion in assets tied to cryptocurrency exchange FTX and trading firm Alameda Research.

According to a Jan. 24 report from CNBC, documents show that as of Jan. 14, BlockFi owned $415.9 million in FTX-related assets, and a whopping $831.3 million in loans to Alameda. The censored version of the same financial data had previously leaked online, following a presentation organized by M3 Partners, consultant to the creditors' committee.

The company later admitted that the file had been uploaded to the web by mistake. According to a later filing, the redacted parts would include trade secrets or secret research, developments and information.

SBF still in troubles

We recall that the US federal government has seized $600 million in assets from Sam Bankman-Fried, the founder and former CEO of bankrupt cryptocurrency trading platform FTX.

Abc news reports it. The maxi-kidnapping is part of the criminal case against the 30-year-old former millionaire accused of stealing billions of dollars from FTX clients and investors. Bankman-Fried pleaded not guilty, but for investigators it is one of the largest thefts in American history.

The former CEO of FTX was extradited last December 21 to the United States from the Bahamas where he lived in a million-dollar residence. The maxi-kidnapping is part of the criminal case against the 30-year-old former millionaire accused of stealing billions of dollars from Ftx customers and investors.

Bankman-Fried pleaded not guilty, but for investigators it is one of the largest thefts in American history. The former CEO of FTX was extradited last December 21 to the United States from the Bahamas where he lived in a million-dollar residence.

Bankman-Fried has returned to updating his Twitter profile but only to share his latest story with his many followers on Substack, the newsletter he has just subscribed to. On Substack, SBF writes a very long overview entitled FTX Pre-Mortem Overview.

Sam Bankman-Fried is convinced that he is not the main cause of the collapse. Of the responsibilities he has already admitted to having them but he doesn't think they are all of him.