Alameda, FTX executives knew the crypto exchange was using customer funds: WSJ - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Alameda, FTX executives knew the crypto exchange was using customer funds: WSJ - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.
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FTX-affiliated crypto trading firm Alameda Research’s CEO Caroline Ellison and senior FTX officials knew that the crypto exchange had lent Alameda its customer funds to help meet liabilities, the Wall Street Journal reported on Saturday.

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Representations of cryptocurrencies are seen in front of displayed FTX logo and decreasing stock graph in this illustration taken November 10, 2022.Representations of cryptocurrencies are seen in front of displayed FTX logo and decreasing stock graph in this illustration taken November 10, 2022.

FTX-affiliated crypto trading firm Alameda Research’s Chief Executive Officer Caroline Ellison and senior FTX officials knew that the crypto exchange had lent Alameda its customer funds to help meet liabilities, the Wall Street Journal reported on Saturday. Reuters reported Friday that FTX founder and former CEO Sam Bankman-Fried had secretly transferred 10 billion of customer funds from FTX to Alameda.

Ellison told employees in a video meeting on Wednesday that she, Bankman-Fried, and two other executives, Nishad Singh and Gary Wang were aware of the decision to move customer funds to Alameda, the Journal said, citing people familiar with the matter.FTX and Alameda Research did not immediately respond to Reuters’ requests for comment.

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