FTX execs blew through $8B — testimony reveals how::Sam Bankman-Fried and other FTX executives spent $8 billion worth of customer funds on real estate, venture capital investments, campaign donations,

  • bamboo@lemmy.blahaj.zone
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    1 year ago

    They also had practically no accounting of money going in or out, other than Quickbooks. Their entire platform was coded as a ponzi scheme with explicit cases to skip checking if balances would go negative when withdrawing money for Alameda Research.