FTX Entities Paid Execs Billions Before Collapse, Including $2.2B to Sam Bankman-Fried
FTX has revealed that former CEO Sam Bankman-Fried and five other top executives received over $3.2 billion in payments and loans before the company's collapse. Most of the money came from Alameda Research, which was a main aspect of the crypto exchange's downfall. The bankrupt company is trying to recover the funds, including over $240 million spent on luxury property in the Bahamas, political and charitable donations. Bankman-Fried is facing 12 federal charges and is awaiting trial later this year. Some of the other executives are cooperating with federal prosecutors.