Published , by Donovan Erskine
Published , by Donovan Erskine
Sam Bankman-Fried stepped down from his position as FTX CEO last week after the crypto exchange company filed for Chapter 11 bankruptcy. This came following a massive liquidity crunch that saw hundreds of millions of dollars in FTT being sold by several top investors. While Bankman-Fried admitted his responsibility for FTX’s downfall, his poor behavior may not have stopped after last week’s events. FTX claims that Bankman-Fried transferred assets to the Bahamas after the bankruptcy filing.
In a Delaware Bankruptcy Court filing today, FTX alleged that former CEO Sam Bankman-Fried attempted to access accounts containing company assets after stepping down from his position last week, as we learned from CNBC’s report. The disgraced CEO was allegedly successful in accessing those assets, which he then transferred to the Bahamian government.
If it’s determined Bankman-Fried did in fact access FTX funds unauthorized and transferred them to the Bahamas, he could be dealing with consequences on top of the fallout from the FTX bankruptcy filing. Visit the Shacknews FTX topic page for any updates on the situation.