Did FTX customer deposits help finance venture investments and loan repayments?

She testified that he instructed her to use FTX customer deposits to finance venture investments and loan repayments by Alameda Research, a crypto hedge fund that she oversaw for him. She said Alameda took around $14 billion, only some of which it was able to repay.

Does Alameda research owe FTX $10 billion?

Basically rule number one of what not to do with your customers’ money. Sam Bankman-Fried’s trading firm Alameda Research reportedly owes his crypto exchange FTX $10 billion after taking loans funded by deposits from FTX customers, according to The Wall Street Journal.

Does Sam Bankman-fried owe FTX $10 billion?

Sam Bankman-Fried’s trading firm Alameda Research reportedly owes his crypto exchange FTX $10 billion after taking loans funded by deposits from FTX customers, according to The Wall Street Journal. As economist Frances Coppola pointed out to the Journal, exchanges like FTX shouldn’t be investing customers’ money.

Are FTX US employees trying to sell off assets?

Employees at FTX US are reportedly trying to sell off some of the company’s assets, according to Bloomberg. That includes the naming rights to a stadium in Miami, the home arena for the Miami Heat, and a clearing firm that it acquired earlier this year.