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FTX goes bankrupt: Investors who put US$2 billion into crypto exchange face scrutiny too
Link: https://www.straitstimes.com/business/investors-who-put-us2-billion-into-ftx-face-scrutiny-too
On Friday, FTX, facing a cash shortfall of US$8 billion and scrambling to drum up money, filed for bankruptcy. | Mr Bankman-Fried resigned as chief executive. The Justice Department and the Securities and Exchange Commission are examining whether FTX improperly used customer funds to prop up a separate trading firm, Alameda Research, which Mr Bankman-Fried also founded. ● FTX’s list of investors spans powerful and well-known investment firms: NEA, IVP, Iconiq Capital, Third Point Ventures, Tiger Global, Altimeter Capital Management, Lux Capital, Mayfield, Insight Partners, Sequoia Capital, SoftBank, Lightspeed Venture Partners, Ribbit Capital, Temasek, BlackRock and Thoma Bravo. ● Four FTX investors, who declined to be identified, said they were shocked by the company’s sudden collapse. They said they properly researched the company’s financials, which showed a healthy, growing business that provided an easy-to-use platform for people to buy, sell and store crypto. And they were completely in the dark about FTX’s possible self-dealing with Alameda.
UKRAINE "MILITARY AID" FROM USA --- WAS INVESTED IN CRYPTO "FTX" BY UKRAINE!
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