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FTX once used customer funds to buy back all the shares held by Binance

A court hearing on Wednesday revealed that FTX used client funds to buy back all shares held by its competitor Binance. As part of the buyback, Binance CEO Zhao Changpeng stated in a 2022 article that the company received over $2.1 billion in BUSD and FTT tokens. Peter Easton, an accounting professor at the University of Notre Dame, was employed by the US Department of Justice (DOJ) to track the billions of dollars in transactions between Alameda and FTX, which is also part of the ongoing SBF trial.

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