The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

FTX and Alameda Executives Including Sam Bankman-Fried Were Aware of Customer Funds Misuse: Report

by Mehron Rokhy
November 16, 2022
in Trading

A new report claims executives of FTX and Alameda Research were aware that their customers’ funds were being mishandled.

According to the Wall Street Journal, anonymous sources familiar with the matter say that top executives at FTX knew the company had lent out billions of dollars worth of customer deposits to Alameda Research, its quantitative trading branch.

The sources say that Alameda CEO Caroline Ellison met with employees this week via a video call and disclosed that she, FTX founder and former CEO Sam Bankman-Fried, and two other FTX executives knew that the crypto exchange was loaning out customer funds to Alameda.

The other two executives were Nishad Singh, FTX’s director of engineering, and Gary Wang, FTX’s chief technology officer and co-founder.

During the call, Ellison said that FTX was loaning out the money to Alameda to help the trading firm meet its outstanding liabilities, according to the sources. They also noted that Alameda had previously taken out loans for illiquid venture investments, according to the report.

Previously, it was alleged that Bankman-Fried misused customer funds by lending out $10 billion worth of user deposits to Alameda, a move which the former billionaire referred to as “a poor judgment call.” At the time, it was reported that FTX had about $16 billion in its coffers.

FTX, Alameda, FTX.US, and other FTX affiliates filed for bankruptcy last week after Bankman-Fried failed to cut a deal with Binance CEO Changpeng Zhao to buy out the embattled crypto exchange.

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Mia Stendal

Submit a Press Release

Industry Announcements

  • Coinfest Asia Is Back in 2023 Carrying the Theme of Web 2.5
    March 20, 2023
  • Poolz Security Incident Prompts Rapid Response and Platform Restructuring
    March 16, 2023
  • Sovryn Introduces Decentralized Bitcoin-Backed Sovryn Dollar To Combat Centralized Stablecoins
    March 16, 2023
  • Partnership Announcement – Oraichain x DoraHacks
    March 16, 2023
  • Wemade Announces Partnership With Space and Time To Power Blockchain and Gaming Services
    March 15, 2023
  • DAO Maker’s Degen Zoo Builds the Abandoned Logan Paul Game in 30 Days
    March 10, 2023
  • New Peer-to-Peer Chat Application Launches on the Decentralized Streamr Network
    March 9, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$27,637.40
$27,637.40
1.52%
Ethereum
$1,739.64
$1,739.64
2.38%
Cardano
$0.33601
$0.33601
2.67%
XRP
$0.384924
$0.384924
0.25%
Dogecoin
$0.071631
$0.071631
4.15%

Spotlight

  • Reminder: Credit Suisse Guilty of Tax Fraud and Subprime Mortgage Fraud, Accused of Aiding Clients Engaged in Torture, Drug Trafficking, and Money Laundering
    March 15, 2023
  • Four Major Crypto Exchanges Announce Support for Arbitrum (ARB) Ahead of Massive Airdrop
    March 18, 2023
  • Ethereum Creator Vitalik Buterin Sends 200 ETH to Crypto Exchange Kraken: PeckShield
    March 14, 2023
  • Top Polygon (MATIC) Rival Arbitrum Officially Announces DAO Governance and ARB Token Drop
    March 16, 2023
NBX Warsaw Summit Banner
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
  • EMAIL ALERTS
  • DAILY HODL MIX

© 2023 The Daily Hodl