#FTX Concealed Losses Months Before Bankruptcy

According to the report, FTX's top management knew about an $8.9 billion shortfall in customer assets as early as August 2022. FTX filed for Chapter 11 status on November 11, 2022.

It implicates FTX's top executives, as well as #CarolineEllison , the former head of #AlamedaResearch and girlfriend of Sam Bankman-Fried.

The report states that, by August 2022, FTX's top executives and Ellison estimated that the exchange owed customers more than $8 billion in fiat currency. And it did not have that sum on hand. Their actions, in the face of this knowledge, were not exemplary.