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The Guardian - US
The Guardian - US
Technology
Lauren Aratani

At least $1bn in investor assets missing after FTX collapse – reports

FTX Sam Bankman-Fried Janet Yellen Crypto Alameda
ftx logo at arena
The FTX Arena in Miami. FTX’s digital currency collapsed this week. Photograph: Marco Bello/Reuters

Amid the fallout of the implosion of FTX, once the second-largest cryptocurrency exchange, at least $1bn in investor assets appears to be missing, according to multiple reports.

On Saturday morning, Reuters reported that FTX was missing at least $1bn in client funds, according to two anonymous sources who held senior positions at FTX and said they had been briefed on the company’s finances. The sources claimed the funds were part of $10bn in client funds that the FTX founder, Sam Bankman-Fried, secretly transferred to Alameda Research, the hedge fund he owns.

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