At least $1 billion (€968m) in client funds is missing from failed #cryptocurrency exchange #FTX after founder Sam Bankman-Fried secretly shifted $10 billion of their money to his trading company, Alameda Research, anonymous sources tell Reuters. One source says the missing amount could be as high as $2 billion.
The development comes on the heels of an investigation into “abnormalities”, after $473 million worth of cryptoassets were suspiciously taken from FTX wallets following the platform filing for bankruptcy on Friday. Cryptocurrencies, including Bitcoin, remained under pressure on Monday following FTX’s collapse. Bitcoin’s monthly losses now sit at 22.5%. Source: LinkedIn News