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FTX Bankruptcy Team Says the Exchange Owed Customers $8.7B

Commingling and misuse of customer funds occurred from the start at FTX, says current CEO John J. Ray III, and senior executives knew of the shortfall as early as August 2022.

Sam Bankman-Fried leaves a federal court in Manhattan (Elizabeth Napolitano / CoinDesk)
Sam Bankman-Fried leaves a federal court in Manhattan (Elizabeth Napolitano / CoinDesk)