SBF and top FTX executives received $3.2 billion from Alameda



March 16, 2023 at 7:56 am
Crypto Regulation

Reuters reported that the former CEO of FTX, Sam Bankman-Fried (SBF), has shared over $3.2 billion with some of the firm’s founders and top executives. The funds — delivered as payments and loans — were sent from Alameda Research, an FTX crypto exchange sister company.

The report added that $2.2 billion of the transfer belongs to SBF, 31, per financial statements made at the bankruptcy court. 

Moreover, Reuters added that the total amount does not include a $240 million budget used to purchase properties in the Bahamas and donations — charitable and over 300 political, which may be illegal — “and substantial transfers to non-debtor units in the Bahamas and other jurisdictions.” 

The 31-year-old former FTX CEO was extradited to the US following his arrest in the Bahamas in December 2022. He was later released on a $250 million bail — signed by his parents and two anonymous individuals whose identities are hidden.

Furthermore, the latest $2.2 billion transfer has triggered anger among the crypto community on Twitter. Some users call him the “biggest scam ever,” while others mock SBF’s donations.

Twitter couldn’t pass up the opportunity to mock the disgraced ex-CEO. Here are some of the reactions:



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