FTX’s Sam Bankman-Fried Reveals He Can’t Account for Billions Sent to Alameda Research
FTX founder Sam Bankman-Fried revealed Thursday that he doesn’t know what happened to billions of dollars that customers of his cryptocurrency exchange sent to accounts of his trading company Alameda Research.
Speaking to the Wall Street Journal Thursday, Bankman-Fried said that the funds “were wired to Alameda, and … I can only speculate about what happened after that.” FTX customers, he said, deposited more than $5 billion in those Alameda accounts and added that the funds are now gone.
“Dollars are fungible with each other. And so it’s not like there’s this $1 bill over here that you can trace through from start to finish,” he said. “What you get is more just omnibus, you know, pots of assets of various forms.”…