A bankruptcy lawyer for FTX's new management told a Delaware federal bankruptcy court that the second-largest exchange in the world was run as the 'personal fiefdom of Sam Bankman-Fried.'
A bankruptcy lawyer for FTX's new management told a Delaware federal bankruptcy court that the second-largest exchange in the world was run as the "personal fiefdom of Sam Bankman-Fried."
Ray had noted in an earlier filing that this wasn't simple sloppiness and unsophistication but actual intent, pointing to software that allegedly hid some financial transactions — specifically the use of FTX clients funds to try to bail out Bankman-Fried's trading firm Alameda Research after bad market bets — and automatically deleted others.
That would include the $$447 million that was stolen by what security experts have suggested was a corporate insider
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