Sam Bankman-Fried’s FTX provided out billions of dollars in consumer funds to Bankman-Fried’s hedge fund, Alameda Research. Alameda offered a $1 billion loan to Bankman-Fried himself and a $543 million loan made to FTX cofounder Nishad Singh.
That was prior to the business declared bankruptcy.
So Bankman-Fried is will not be striking the soup line anytime quickly.
The CEO of now-bankrupt FTX confessed recently that FTX was absolutely nothing more than a laundromat for the Ukrainian federal government.
TGP formerly reported the United States was moving cash to Ukraine and after that laundering cash through FTX back from Ukraine to the Democrat celebration.
Democrats’ “Newest Megadonor” Loses Billions As Crypto Exchange Fails– “Dot-Com Bust Level Event”
Breitbart.com reported:
Disgraced cryptocurrency exchange FTX creator and Democrat extremely donor Sam Bankman-Fried provided $1 billion to himself through his hedge fund Alameda Research, which likely sourced the cash from FTX client funds.
On Thursday, it was exposed by FTX’s brand-new CEO John Ray, III that the collapsed business’s insolvency filing reveals it had actually provided billions of dollars in consumer funds to Alameda Research. Amongst those loans, a shocking $ 1 billion was made to Bankman-Fried himself.
According to Ray, Alameda had actually made $4.1 billion of related-party loans, which were still impressive at the end of September.
In addition to the $1 billion loan that was made to Bankman-Fried, FTX co-founder Nishad Singh got a $543 million loan, and the business’s co-CEO Ryan Salame got a $55 million loan.
But this was not the only wild and stunning discovery discovered in the FTX insolvency filing. FTX business funds were likewise utilized to purchase individual houses, audit viewpoints were carried out from the metaverse, and the majority of the business’s digital properties have actually not been protected, to name a few things.
The post FTX Founder Sam Bankman-Fried Took $1 Billion Loan from His Hedge Fund Before Declaring Bankruptcy appeared initially on The Gateway Pundit
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