FTX Employees Used Company Funds to Buy Homes in the Bahamas

Published by
The Street

By Luc Olinga There were no expense controls for employees whose expenses were approved by chat with personalized emojis, according to the new CEO. The news will cause unprecedented anger among customers of FTX, which filed for Chapter 11 bankruptcy on November 11. The cryptocurrency exchange, which was still valued at $32 billion in February, imploded overnight. This debacle is spreading to other cryptocurrency exchanges. Regulators have opened investigations. FTX clients and investors began to establish their losses. It is not certain that they will recover their money. To help them understa…

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