Sam Bankman-Fried Was Paid $2.2B Mostly From Alameda—Ex-CEO Caroline Ellison Only $6M - Decrypt
Mat Di Salvo
16 Mar 2023 7:53 PM
Sam Bankman-Fried and his inner circle collectively received roughly $3.2 billion in payments and loans, court documents have revealed....
- Sam Bankman-Fried, the ex-FTX boss and co-founder, received $2.2 billion in payments and loans, mostly from Alameda Research, while other executives received significantly less.
- $3.2 billion was handed out to ex-FTX staff, with most of it coming from Alameda Research.
- Alameda Research had the ability to use FTX customer assets for its own means, without oversight.
- FTX went bust in November due to its management making risky bets with customer cash via Alameda Research.
- Bankman-Fried is facing 12 criminal charges in the United States, while Ellison, Wang, and Singh have all admitted to fraud and are cooperating with investigators.
- Billions of dollars in FTX client cash is still currently missing.
The article has a negative sentiment as it discusses the failure of FTX and the criminal charges faced by Bankman-Fried, as well as the missing client cash.
Related Questions
Who received the majority of the $3.2 billion in payouts reported by FTX's new management?
What was Alameda Research's role in the FTX drama?
Why did FTX go bust in November?
What charges is Bankman-Fried facing in the United States?
What happened to the billions of dollars in FTX client cash?
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