According to News.bitcoin, FTX provided more than $13 million in loans to Australian influencer Alex Saunders in July 2021 to help him repay investor debts to prevent potential damage to his reputation and avoid lawsuits. According to a report by investigator Robert J. Cleary, Saunders squandered creditors' funds while trading on FTX.com, leading some investors to file lawsuits. In order to avoid reputation damage and avoid lawsuits, FTX offered to provide Saunders with a multi-million dollar loan.