Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain
  • Web 3
    • NFT
    • Metaverse
  • Regulation
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

2025-05-19

Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

2025-05-19

Coinbase confirms Doj research after a major security incident

2025-05-19
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
Facebook X (Twitter) Instagram
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Market Cap
  • Blockchain

    Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

    2025-05-19

    Vitaminai and Blocx partner to stimulate security and productivity by bridging Web2 and Web3

    2025-05-19

    Sentismai integrates Kyberswap for seamless EVM -Kettingwaps

    2025-05-19

    Alchemie acquires Solana developer Dexterlab for unknown sum

    2025-05-19

    Interlink and Blazpay Partner to improve the user experience in Web3 with AI

    2025-05-19
  • Web 3
    • NFT
    • Metaverse
  • Regulation

    Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

    2025-05-19

    Authorities claim that scammers have stolen $ 265,000,000 in crypto to buy exotic cars, private security and other luxury

    2025-05-19

    SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

    2025-05-19

    Trump administration to beat bank rules designed to prevent collapse in 2008 style: report

    2025-05-19

    Mastermind Behind Sec Sim -exchange schedule sentenced to 14 months in prison for manipulating Bitcoin price

    2025-05-18
  • Analysis

    BlackRock’s Buidl to Power Bouncebit’s new RWA Yield Strategy Platform

    2025-05-19

    XRP -Price confirms Bullish reversing settings with this demand zone

    2025-05-19

    Finish Bitcoin price inches in the direction of all time-can Momentum?

    2025-05-19

    Ethereum – price cannot break through – what does it stop?

    2025-05-19

    Dogecoin (Doge) is struggling to support profit while Meme Coin cools Mania

    2025-05-19
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-09
  • Blog
  • Contact
    • Tech7685@gmail.com
Bitcoin Platform – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»Alameda has already tapped billions of dollars in FTX user funds in 2019, says co-founder Gary Wang: report
Alameda has already tapped billions of dollars in FTX user funds in 2019, says co-founder Gary Wang: report
Regulation

Alameda has already tapped billions of dollars in FTX user funds in 2019, says co-founder Gary Wang: report

2023-10-08No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The co-founder of bankrupt digital asset exchange FTX says sister company Alameda had already used billions of dollars of FTX client assets for trading purposes in 2019.

According to lengthy court transcripts issued by Inner City Press on the social media platform

Wang – along with Sam Bankman-Fried and other FTX executives – is accused of defrauding investors and mishandling billions of dollars of customer funds in connection with FTX’s 2022 demise. However, Wang and others have decided to collaborate with the authorities and to testify against Bankman-Fried.

Wang says that Nishad Singh, another co-founder of FTX, added an “allow negative” feature to FTX’s platform code in 2019, which allowed Alameda to use more money than was in its account to support FTX Token (FTT), as well as for trading purposes.

“Sam asked Nishad and me to do that [add the code]. In 2019. It was about FTT, a cryptocurrency we created to act as equity in FTX.

But it wasn’t just used for FTT – Alameda used it to trade when the account balance was below zero.”

Wang further says that since July 2019, Alameda has used the ‘allow negative’ feature to withdraw $8 billion worth of fiat money and digital assets from FTX.

Wang also says customers have never consented to their money being used in such a way, according to Bankman-Fried authorized Alameda will receive a credit of $65 billion.

If convicted of his charges, Bankman-Fried faces decades behind bars.

Don’t miss a beat – Subscribe to receive email alerts straight to your inbox

Check price action

follow us on TweetFacebook and Telegram

Surf to the Daily Hodl mix

Featured image: Shutterstock/Tatkhagata



Source link

See also  Binance Removes Five Sanctioned Russian Banks From P2P Trading: WSJ
Alameda billions cofounder dollars FTX funds Gary report tapped User Wang
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

2025-05-19

Authorities claim that scammers have stolen $ 265,000,000 in crypto to buy exotic cars, private security and other luxury

2025-05-19

SEC chairman Atkins confirms the end of hard crypto enforcement, proposes a uniform framework

2025-05-19

Interlink and Blazpay Partner to improve the user experience in Web3 with AI

2025-05-19
Add A Comment

Comments are closed.

Top Posts

MicroStrategy Buys Over 21,000 Bitcoin and Now Controls 2% of the Total BTC Supply

2024-12-10

The American stock market now looks more favorable than pre-trade war, according to Tom Lee from Fundstrat-Dit why is why

2025-05-18

BTC’s prospects for 2024 are improving and this new milestone for 2023 could be the reason

2023-10-28
Editors Picks

AVAX price rises 50% and dumps 15%, why the uptrend is still strong

2023-12-13

Dogecoin Presses Range Highs – Can Bulls Push DOGE to ATH?

2024-12-09

Will Ethereum use ETFs the price from ETH to new heights push?

2025-02-15

Bitcoin’s loss could be Solana’s gain. This is why the $187 target could be in sight

2024-08-31

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Cdari works together with Laika Ai to strengthen blockchain -intelligence about chains

Sec -retreats decision on Bitwise, 21Shares Solana ETF applications, Opens Public Consultation

Coinbase confirms Doj research after a major security incident

Get Informed

Subscribe to Updates

Get the latest news and Update from Bitcoin Platform about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • Free.cc (Free Crypto)
© 2025 Bitcoinplatform.com - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$106,010.880.21%
  • ethereumEthereum(ETH)$2,535.373.60%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.39-0.76%
  • binancecoinBNB(BNB)$651.020.32%
  • solanaSolana(SOL)$167.99-0.75%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.225612-1.29%
  • cardanoCardano(ADA)$0.74-0.73%
  • tronTRON(TRX)$0.2664920.67%
  • suiSui(SUI)$3.860.15%
  • chainlinkChainlink(LINK)$15.781.14%
  • avalanche-2Avalanche(AVAX)$22.29-1.39%
  • stellarStellar(XLM)$0.286107-0.99%
  • hyperliquidHyperliquid(HYPE)$26.44-1.10%
  • shiba-inuShiba Inu(SHIB)$0.000015-0.93%
  • hedera-hashgraphHedera(HBAR)$0.194211-0.48%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-1.24%
  • bitcoin-cashBitcoin Cash(BCH)$393.84-2.33%
  • the-open-networkToncoin(TON)$3.03-2.29%
  • litecoinLitecoin(LTC)$98.68-0.63%
  • polkadotPolkadot(DOT)$4.61-2.24%
  • moneroMonero(XMR)$344.041.96%
  • bitget-tokenBitget Token(BGB)$5.220.66%
  • pepePepe(PEPE)$0.000013-1.93%
  • daiDai(DAI)$1.000.01%
  • piPi(PI)$0.74-0.43%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • aaveAave(AAVE)$250.2010.69%
  • uniswapUniswap(UNI)$5.94-0.99%
  • bittensorBittensor(TAO)$413.81-1.21%
  • nearNEAR Protocol(NEAR)$2.77-0.81%
  • aptosAptos(APT)$5.211.73%
  • okbOKB(OKB)$52.47-0.74%
  • ondo-financeOndo(ONDO)$0.93-1.17%
  • kaspaKaspa(KAS)$0.108143-2.15%
  • ethereum-classicEthereum Classic(ETC)$18.480.34%
  • internet-computerInternet Computer(ICP)$5.21-0.69%
  • gatechain-tokenGateToken(GT)$21.51-0.75%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.82-1.61%
  • crypto-com-chainCronos(CRO)$0.096108-2.50%
  • mantleMantle(MNT)$0.73-1.85%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232778-2.27%
  • vechainVeChain(VET)$0.028147-1.34%
  • render-tokenRender(RENDER)$4.58-0.63%
  • ethenaEthena(ENA)$0.371871-2.25%
  • usd1World Liberty Financial USD(USD1)$1.000.05%
  • algorandAlgorand(ALGO)$0.222509-0.83%
  • filecoinFilecoin(FIL)$2.86-0.03%
  • arbitrumArbitrum(ARB)$0.3916300.96%
  • bitcoinBitcoin(BTC)$106,010.880.21%
  • ethereumEthereum(ETH)$2,535.373.60%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.39-0.76%
  • binancecoinBNB(BNB)$651.020.32%
  • solanaSolana(SOL)$167.99-0.75%
  • usd-coinUSDC(USDC)$1.000.01%
  • dogecoinDogecoin(DOGE)$0.225612-1.29%
  • cardanoCardano(ADA)$0.74-0.73%
  • tronTRON(TRX)$0.2664920.67%
  • suiSui(SUI)$3.860.15%
  • chainlinkChainlink(LINK)$15.781.14%
  • avalanche-2Avalanche(AVAX)$22.29-1.39%
  • stellarStellar(XLM)$0.286107-0.99%
  • hyperliquidHyperliquid(HYPE)$26.44-1.10%
  • shiba-inuShiba Inu(SHIB)$0.000015-0.93%
  • hedera-hashgraphHedera(HBAR)$0.194211-0.48%
  • unus-sed-leoUNUS SED LEO(LEO)$8.62-1.24%
  • bitcoin-cashBitcoin Cash(BCH)$393.84-2.33%
  • the-open-networkToncoin(TON)$3.03-2.29%
  • litecoinLitecoin(LTC)$98.68-0.63%
  • polkadotPolkadot(DOT)$4.61-2.24%
  • moneroMonero(XMR)$344.041.96%
  • bitget-tokenBitget Token(BGB)$5.220.66%
  • pepePepe(PEPE)$0.000013-1.93%
  • daiDai(DAI)$1.000.01%
  • piPi(PI)$0.74-0.43%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • aaveAave(AAVE)$250.2010.69%
  • uniswapUniswap(UNI)$5.94-0.99%
  • bittensorBittensor(TAO)$413.81-1.21%
  • nearNEAR Protocol(NEAR)$2.77-0.81%
  • aptosAptos(APT)$5.211.73%
  • okbOKB(OKB)$52.47-0.74%
  • ondo-financeOndo(ONDO)$0.93-1.17%
  • kaspaKaspa(KAS)$0.108143-2.15%
  • ethereum-classicEthereum Classic(ETC)$18.480.34%
  • internet-computerInternet Computer(ICP)$5.21-0.69%
  • gatechain-tokenGateToken(GT)$21.51-0.75%
  • official-trumpOFFICIAL TRUMP(TRUMP)$12.82-1.61%
  • crypto-com-chainCronos(CRO)$0.096108-2.50%
  • mantleMantle(MNT)$0.73-1.85%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.232778-2.27%
  • vechainVeChain(VET)$0.028147-1.34%
  • render-tokenRender(RENDER)$4.58-0.63%
  • ethenaEthena(ENA)$0.371871-2.25%
  • usd1World Liberty Financial USD(USD1)$1.000.05%
  • algorandAlgorand(ALGO)$0.222509-0.83%
  • filecoinFilecoin(FIL)$2.86-0.03%
  • arbitrumArbitrum(ARB)$0.3916300.96%