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CEO of FTX blames ex-girlfriend for the demise and loss of $32BN

CEO Sam Bankman-Fried of the beleaguered cryptocurrency exchange FTX has laid the failure of the business at the feet of his ex-girlfriend.

He claimed that Alameda, the gambling operation owned by his ex-girlfriend Caroline Ellison, was to blame for his company's financial losses in a Twitter direct message to Vox American reporter Kelsey Piper.

He acknowledged that he believed the firm "had enough collateral to [reasonably] cover it" when questioned about Alameda's "gambling" with clients' funds.

Life "creeps up on you," he said, adding that it was "never the intention."

The FTX CEO responded that he would have "off boarded Alameda from FTX" when asked what he could have done better.

Authorities in the United States and the Bahamas may extradite Mr. Bankman-Fried for questioning, according to rumors.

The incident has caused a decline in Bitcoin's value, which has led to a crisis of faith in cryptocurrencies.

It is alleged that Mr. Bankman-Fried transferred $10BN (€9.7BN) of customer money to Alameda while investors withdrew $6BN (€5.8BN) from FTX's platform last week.

FTX, situated in the Bahamas, declared bankruptcy on Friday after its users started taking money out earlier this week. A failed rescue arrangement with rival exchange Binance was the cause of cryptocurrency's most prominent collapse in recent years.


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