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Sam bankman-fried, the disgraced founder of the research alameda commercial company now deceased and his sister company ftx, went on Twitter to deny any involvement in a series of unidentified transfers and chip exchanges from portfolios related to the alameda search.
response to a media report that discussed transfers involving people with connections to Alameda, Sam Bankman-Fried tweeted, ‘None of these are me.’
He said there was no access.
I think it's likely that the various legitimate branches of FTX will have access to that money; I hope that's what's happening here. If not, it is to be hoped that action will be taken in the near future. I would be happy to help advise regulators on this if any wanted.
— SBF (@SBF_FTX) December 30, 2022
Sam Bankman-Fried and FTX Owe Billions of Dollars
According to the documents filed with the court, a group of FTX customers located outside of the United States made an anonymous request for confidentiality to the judge overseeing the insolvency case involving the company.
It was tabled on December 28, the 15 creditors who assert that ftx owes them a combined total of $1.9 billion have stated that they wish to remain anonymous due to the increased risk of fraud and theft associated with cryptocurrency.
The deposit indicated that cryptocurrency was difficult to track and that traditional financial transactions were safer than cryptocurrency transactions.
Anonymity matters to many more people than the ones who use ftx. Judge Dorsey ordered that FTX's principal creditors remain undisclosed. Creditors have asked for that.
FTX now takes privacy into account.
FTX fears that the personal information of its creditors will be stolen if their names become public. An estimated combined total of $3.1 billion in monetary compensation is available to the top 50 creditors.
Together, It's the New York Times, dow jones, bloomberg, and financial delays—have taken legal action to require that the identity of the persons responsible for the breach be made public.
The judge has scheduled a hearing in January to hear both sides' submissions. Prosecutors in this case blame FTX's implosion for mismanagement, or even outright theft.
John J. Ray: Been There, Done That
John J. Ray III is an insolvency expert and current CEO of FTX. Asserts that FTX is deeply mismanaged. He found that his employees were using everyday programs like Slack and Quickbook to manage billions of dollars of finances. Even though the company had just come out of insolvency.
As far as Ray is concerned, a bankruptcy expert who has worked on both enron and non-enron cases, The bankruptcy of the Bahamas-based company was caused by "a limited number of undereducated and unqualified persons." Ray's been working Enron cases and others. Ray's been through a lot in the past.
An investigation showed that the former CEO of ftx sam bankman-fried would have combined the investments of ftx clients with those of alameda research unbeknownst to ftx clients.
Authorities arrested Sam Bankman-Fried in the Bahamas last week and extradited him to the U.S.
Sam Bankman-Fried’s charges include money laundering and wire fraud. He has posted $250 million in bail and is presently under house arrest with his parents in California.
