FTX, the defunct cryptocurrency exchange, is finally being forced to publicly detail its spending habits in the company’s ongoing Chapter 11 bankruptcy proceedings. And the resulting documents are illuminating.
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As down-and-out crypto exchange FTX struggles through the miasma of Chapter 11 bankruptcy, seeking to recoup funds needed to make customers and investors whole, the company now says there was around $3.2 billion dolled out to former CEO Sam Bankman-Fried and five other members of his inner circle before the collapse.
A federal judge doesn’t think proposed changes to Sam Bankman-Fried’s bail conditions will be enough to address the disgraced FTX founder’s messy online behavior while awaiting trial, according to a Friday Reuters report.
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