IN NEW YORK: According to two persons with knowledge of the situation, the defunct crypto exchange FTX has lost at least $1 billion in customer assets.FTX customer funds worth $10 billion were secretly transferred by Sam Bankman-Fried, the exchange’s founder, to Bankman-trading Fried’s firm Alameda Research, the people told Reuters.
They said that a sizable chunk of that sum has subsequently vanished. According to one source, the missing funds total around $1.7 billion. The other stated that there was a $1 billion to $2 billion gap.Although it is well known that FTX transferred customer monies to Alameda, this is the first time the lost amounts have been mentioned.
According to the two sources, Bankman-Fried shared information with other senior officials last Sunday that showed the financial gap. They claimed that the records gave a current account of the circumstances at the time. Prior to this week, both of the sources held senior positions with FTX and claimed to have received financial updates from senior staff.
