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To summarize, the WSJ article says he took $10B of $16B in customer deposits to FTX and used that to finance his hedge fund.
by NelsonMinar 4y ago
To summarize, the WSJ article says he took $10B of $16B in customer deposits to FTX and used that to finance his hedge fund.
- jbverschoor 4y agoDamn, that's nearly 2/3. Insane.
- reso 4y ago...and then the hedge fund lost the whole $10B. Corruption AND incompetence.
- MrMan 4y agoor just spent it?
- moralestapia 4y agoOr stole it.
- bagels 4y agoSeems like blaming the economy/stock market can make for a good cover if nobody looks too hard.
- michael1999 4y agoLooks like much of it was spent filling in the bezzle left from the early blow-ups in terra, etc. He was trying to prop up the whole ecosystem.
- strikelaserclaw 4y agoshould definitely serve some jail time