More than $2bn was transferred to Sam Bankman-Fried from FTX entities, according to bankruptcy court filings made by the new management of cryptocurrency exchange on Wednesday night.
According to a press release describing financial statements filed with the bankruptcy court in Delaware, Bankman-Fried and five members of his inner circle transferred $3.2bn in total to their personal accounts in the form of “payments and loans”, the funds primarily coming from Alameda Research, a crypto trading hedge fund affiliated with FTX.
John Ray, the new chief executive of FTX appointed at the time of the Chapter 11 bankruptcy filings in November, has been seeking to identify the location of cryptocurrency and other assets that can be eventually returned to the millions of FTX customers whose accounts have been frozen since its collapse.