FTX is in Pursuit of ”Lost” Money


The new managers of FTX, which has raised the bankruptcy flag, are tracking billions of dollars that have disappeared from the stock market.

The new US managers of FTX are in an adventure that is not looking for an action movie. If anyone remembers; In the movie called Chasing Money, which was shot in the early 2000s, the criminal, who knew that the police were after him, was secretly hiding the money in someone’s luggage. On the side that received the money, a change was taking place. It is possible to compare the relationship of FTX and Alameda to this. The new managers of FTX, who are chasing billions of dollars that have disappeared, are also in the role of police.

FTX Hired Forensic Team to Investigate the Trail of the Missing Money

The US directors of the bankrupt crypto company commissioned the AlixPartners team, led by the former chief accountant of the enforcement division of the SEC.

A lawyer for FTX said in bankruptcy court last month that a significant part of his assets had been lost or stolen. Sam Bankman-Fried, the founder of FTX, told the Wall Street Journal in an interview published this week that he could not explain what happened to billions of dollars sent from FTX to Alameda Research, a related trading company.
According to the Wall Street Journal, people familiar with the matter said that AlixPartners will be tasked with conducting asset tracking to detect and try to recover lost digital assets.

FTX said the number of individual and corporate customers affected by its collapse has reached millions. According to court documents, only the 50 largest creditors are owed more than $ 3 billion. Finding out where the missing billions have gone is likely to be a complex task.

“The SBF and Its Colleagues are in Danger”
FTX’s newly appointed chief executive, John Ray, said the firm’s financial reporting was unreliable.

Continuing his speech, Ray described Sam Bankman-Fried, the former CEO of FTX, and his colleagues as “potentially in danger”. He also stated that FTX used software to hide the misuse of client funds.

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