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.
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.