Here are the latest shocking developments that we are just finding out:
- All 134 of his companies have declared bankruptcy (hmmmm)
- FTX's former head of institutional sales says that only 10% of FTX's $8.8 billion in customer funds were backed by liquid assets
Latest Developments in the FTX Collapse - SBF cashed out investments in FTX from the likes of Sequoia and then invested back into the very firms providing the investment
- Alameda Research owes $10 billion in customer deposits to FTX and another $1.5 billion in loans to outside parties
- He said FTX US was liquid just this week, it was not
- FTX had $16bn in customer assets, and they gave $10bn to Alameda Research who lost all of it
- He sold his employee's stock (after heavily marketing it internally) in the company at a 50% discount (many have lost their entire livelihoods)
- His entire $16 billion fortune has now been wiped out and still owes a lot of money to a lot of people
Remember that film, The Wolf of Wall Street?
Jordan Belfort only defrauded investors out of $200m. This could be as high as $50bn, that's 100x.
- All 134 of his companies have declared bankruptcy (hmmmm)
- FTX's former head of institutional sales says that only 10% of FTX's $8.8 billion in customer funds were backed by liquid assets
Latest Developments in the FTX Collapse - SBF cashed out investments in FTX from the likes of Sequoia and then invested back into the very firms providing the investment
- Alameda Research owes $10 billion in customer deposits to FTX and another $1.5 billion in loans to outside parties
- He said FTX US was liquid just this week, it was not
- FTX had $16bn in customer assets, and they gave $10bn to Alameda Research who lost all of it
- He sold his employee's stock (after heavily marketing it internally) in the company at a 50% discount (many have lost their entire livelihoods)
- His entire $16 billion fortune has now been wiped out and still owes a lot of money to a lot of people
Remember that film, The Wolf of Wall Street?
Jordan Belfort only defrauded investors out of $200m. This could be as high as $50bn, that's 100x.