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| FTX: ‘Personal Fiefdom’ Missing ‘Substantial’ Assets |
Attorneys for FTX said at a bankruptcy hearing Tuesday that former CEO Sam Bankman-Fried had run the collapsed crypto exchange as a “personal fiefdom” by spending $300 million on property deals.
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They also claimed that FTX has suffered numerous cyberattacks, and requested that the client list be kept sealed to protect both them from future attacks and the company from possible future asset sales.
In a separate filing late on Monday, a consultancy firm advising FTX revealed the company’s cash balance of $1.24bn as of Sunday was “substantially higher” than previously thought, after almost $600mn was found parked at Alameda Research and FTX’s Japan arm.
