Half of the $181 million worth of assets identified by FTX US, the U.S.-based arm of Sam Bankman-Fried’s bankrupt crypto empire, was “subject to unauthorized third-party transfers” following its bankruptcy filing, according to a presentation made to the FTX creditor committee today. It’s taken a “Herculean investigative effort for our team to uncover this preliminary information,” newly appointed FTX CEO John Ray said in a statement about the meeting. Unauthorized transfers from the main exchange, FTX.com, made headlines as hundreds of millions of dollars were drained the day after the company filed for Chapter 11 bankruptcy protection on November 11. But the company had not disclosed the $90 million that was moved from FTX US until now. (Decrypt)
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