FTX founder and Democrat super donor Sam Bankman-Fried lent $1 billion to himself through his hedge fund Alameda Research
Turns out that FTX lent out billions of dollars in customer funds to Bankman-Fried’s hedge fund, Alameda Research.
Alameda then gave Bankman-Fried a $1 billion loan, FTX cofounder Nishad Singh a $543 million loan and co-CEO Ryan Salame a $55 million loan
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This all took place before the company went bankrupt.
Breitbart reports: On Thursday, it was revealed by FTX’s new CEO John Ray, III that the collapsed company’s bankruptcy filing shows it had lent billions of dollars in customer funds to Alameda Research. Among those loans, a staggering $1 billion was made to Bankman-Fried himself.
According to Ray, Alameda had made $4.1 billion of related-party loans, which were still outstanding at the end of September.
In addition to the $1 billion loan that was made to Bankman-Fried, FTX co-founder Nishad Singh received a $543 million loan, and the company’s co-CEO Ryan Salame received a $55 million loan.
But this was not the only wild and shocking revelation found in the FTX bankruptcy filing. FTX corporate funds were also used to buy personal homes, audit opinions were conducted from the metaverse, and most of the company’s digital assets have not been secured, among other things.
