Crypto Updates

SBF and Former Executives of FTX Received $3.2 Billion

The Rise, the Fall and the Reaction

The founder
and owner of collapsed cryptocurrency exchange FTX, Sam Bankman-Fried (SBF), received
$2.2 billion in loans and payments from the platform and related entities,
mainly Alameda Research, according to the team of administrators in charge of
restructuring the company.

Five former
executives of the now-defunct FTX and SBF were slated to receive a sum total of
$3.2 billion, with the majority sourced from the Alameda hedge fund, a
significant contributor to the platform’s collapse.

breakdown of these payments is as follows:

  1. Sam
    Bankman-Fried received approximately $2.2 billion.
  2. Nishad
    Singh was given $587 million.
  3. Zixiao
    “Gary” Wang received $246 million.
  4. Ryan
    Salame received $87 million.
  5. John
    Samuel Trabucco received $25 million.
  6. Caroline
    Ellison was given $6 million.

according to the crypto exchange’s bankruptcy

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