Collapsed cryptocurrency exchange FTX made transfers of about $3.2 billion to its founder Sam Bankman-Fried and key employees, according to court filings seen by Bloomberg and the Financial Times.
FTX collapsed last November after a wave of withdrawals and consequently declared bankruptcy on November 11, wiping out Mr Bankman-Fried’s fortune.
Expand Autoplay Former FTX chief executive Sam Bankman-Fried arrives on the day of his hearing at Manhattan federal court in New York.
The administrators of FTX identified other transfers as part of the overall $3.2 billion.
Three FTX insiders who have pleaded guilty and are co-operating with prosecutors — Nishad Singh, Gary Wang and Caroline Ellison — were transferred about $839 million in total, according to FTX.
Two other former FTX executives, Ryan Salame and John Trabucco, were said to have together received more than $100 million.
The pair borrowed the money from Alameda Research and purchased the shares in four tranches through a holding company in Antigua. »