{"id":75711,"date":"2023-03-17T10:20:25","date_gmt":"2023-03-17T08:20:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75711"},"modified":"2025-09-10T13:11:22","modified_gmt":"2025-09-10T10:11:22","slug":"sam-bankman-fried-received-2-2-billion-from-ftx-and-alameda-research","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sam-bankman-fried-received-2-2-billion-from-ftx-and-alameda-research\/","title":{"rendered":"Sam Bankman-Fried received $2.2 billion from FTX and Alameda Research"},"content":{"rendered":"

The total payouts in the form of payments and loans to the so-called inner circle of former FTX chief executive Sam Bankman-Fried (SBF) amounted to $3.2 billion. This is stated in the press release<\/a> of the company.<\/p>\n

Most of this sum came from a related party to the bankrupt Alameda Research. Its former head Caroline Ellison received only $6 million, while SBF \u2014 $2.2 billion, according to court documents<\/a>.<\/p>\n

$587 million went to FTX’s Chief Technology Officer Nishad Singh, $246 million to the platform’s co-founder Gary Wang. Former co-head of FTX Digital Markets Ryan Salame received $87 million, and former co-chief of Alameda Research Sam Trabucco received $25 million.<\/p>\n

The $3.2 billion does not include more than $240 million spent on purchases of elite Bahamas real estate, political donations<\/a> and transfers to subsidiary companies.<\/p>\n

In November 2022, the new CEO of the exchange John Ray said that there was absolutely no control over cash movements<\/a> and reliable financial information within the company.<\/p>\n

During congressional hearings, the executive accused Bankman-Fried and his team of storing private keys without encryption. In their actions, he saw ‘old-fashioned waste’<\/a>, rather than sophisticated, meticulously planned crimes.<\/p>\n

In December, the US Department of Justice filed charges against SBF in eight criminal counts. He was arrested in the Bahamas<\/a> and extradited to the United States, where he was released on bail of $250 million<\/a>.<\/p>\n

In February 2023 prosecutors increased the number of charges<\/a> against SBF to twelve.<\/p>\n

Ellison and Wang previously pleaded guilty<\/a> to claims related to the FTX collapse. Singh subsequently followed suit<\/a>.<\/p>\n

Trabucco avoided charges, having stepped down<\/a> three months before the platform ceased operations.<\/p>\n

Salame warned<\/a> the Bahamian regulator about potential cryptocurrency exchange fraud two days before the bankruptcy filing. He faced no charges.<\/p>\n

In March 2023, John Ray said there was ‘substantial deficit’<\/a> of capital at the platform.<\/p>\n

According to the exchange’s court filing, the asset shortfall totals $8.7 billion, of which $1.6 billion is Bitcoin<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The total payouts in the form of payments and loans to the so-called inner circle of former FTX CEO Sam Bankman-Fried (SBF) amounted to $3.2 billion. This is stated in the company\u2019s press release.<\/p>\n","protected":false},"author":1,"featured_media":75712,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1435,1236,1403],"class_list":["post-75711","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alameda-research","tag-ftx","tag-sam-bankman-fried"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75711","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75711"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75711\/revisions"}],"predecessor-version":[{"id":75713,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75711\/revisions\/75713"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75712"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75711"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75711"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75711"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}