In a recent financial statement filing with the U.S. Bankruptcy Court, it has been revealed that Alameda Research paid or loaned $3.2 billion to FTX founders and executives.

Finance Times reported on the 16th that among the recipients, Sam Bankman-Fried received $2.2 billion, Nishad Singh received $587 million, Gary Wang received $246 million, and Caroline Ellison received approximately $6 million. It’s important to note that this money doesn’t include the $240 million used to purchase a luxury resort in the Bahamas, political contributions or donations made directly by FTX management, or assets transferred to subsidiaries in the Bahamas and elsewhere.

The revelation has raised eyebrows and left many wondering about the reasons behind the transfer of such a large sum of money. FTX creditors are investigating the matter and are looking into the recipients and the reasons for the transfer of the funds.

It’s worth mentioning that some of the real estate purchased with the transferred assets is already under the control of FTX creditors or government authorities working with them. However, the amount and timing of final recovery are currently unknown.

Following the Chapter 11 bankruptcy filings in November, FTX’s newly appointed chief executive, John Ray, has been actively searching for the whereabouts of cryptocurrency and other assets that can be used to reimburse the millions of customers affected by FTX’s collapse.

The news is significant and could have implications for the cryptocurrency market, as FTX is a major player in the industry. Investors and stakeholders are closely watching developments in this story, and any further revelations could have a significant impact on FTX’s reputation and future prospects.

As a reporter, it’s important to keep an eye on this developing story and provide regular updates as more information becomes available. The cryptocurrency market is rapidly evolving, and stories like this remind us of the need for transparency and accountability in the industry.

#FTX #FTXcollapse #FTXUpdate #FTXScandal #Binance

This article was republished from azcoinnews.com

FTX Europe, the European subsidiary of bankrupt cryptocurrency exchange FTX, has opened a new website to enable its former customers to withdraw their remaining funds from the platform. The new domain name, https://ftxeurope.eu/, has been approved by the Cyprus Securities and Exchange Commission (CySE) and will offer no products or services apart from balance withdrawal.

According to a report by Finance Magnates, FTX Europe confirmed that the new website would be used solely for the purpose of allowing FTX EU LTD clients to claim their FIAT balances. Customers are required to log in to their FTX EU account through the new domain to see their balance and request a withdrawal.

As of now, the original domain www.ftx.com/eu remains unresponsive. However, Finance Magnates checked CySEC’s public register and confirmed that https://ftxeurope.eu is an approved domain owned by FTX EU.

@azcoinnews

The move by FTX Europe to create a new website for balance withdrawals comes in the wake of the parent company’s bankruptcy. The bankruptcy filing of FTX, a popular cryptocurrency exchange, was announced in December 2021, after the company was hit with a $100 million lawsuit from a former client.

The new domain approval from CySE is seen as a positive development for FTX Europe’s customers, as it allows them to withdraw their funds from the platform despite the parent company’s financial troubles. FTX Europe’s initiative to create a new website for withdrawal requests shows its commitment to its customers and the financial regulations set forth by the regulatory bodies.

In conclusion, the new domain, https://ftxeurope.eu/, approved by CySE for balance withdrawal from FTX Europe, offers relief for former customers of the bankrupt cryptocurrency exchange. FTX Europe’s move to create a new website for withdrawal requests demonstrates the company’s willingness to adhere to regulatory guidelines and fulfill its obligations to its customers.

#FTXEU #FTXEuro #FTX #FTXUpdate #azcoinnews

This article was republished from azcoinnews.com

Sam Bankman-Fried, the founder of FTX crypto exchange, admits transferring $650 million worth of Robinhood shares acquired last year to his personal custody.
Read more on: https://thecryptobasic.com/2023/10/31/sbf-undergoes-intense-cross-examination-admits-transferring-650m-robinhood-shares-to-his-personal-custody/
#ftx #FTXUpdate #SBFCourtTrial #Crypto #cryptonewstoday