Bankruptcy court filings reveal former FTX co-CEO Ryan Salame alerted Bahamian authorities to client fund transfers being sent to cover Alameda's losses.
Former U.S. attorney and prosecutor Guy Lewis reacts to Sen. Elizabeth Warren, D-Mass., and Kevin O'Leary clashing on whether crypto facilitates money laundering.
A former high-level FTX executive tipped off Bahamian officials about client fund transfers from the spiraling crypto exchange to sister company Alameda Research two days before the platform filed for bankruptcy, and pointed to other FTX leaders, including founderBahamian officials claim in documents filed Wednesday that during a conference call on Nov.
According to court documents, former FTX Digital co-CEO Ryan Salame tipped off Bahamian officials to alleged improper payments to Alameda Research. Salame purportedly warned that the transfers "were not allowed or consented to" by the clients, and said the only individuals with access to carry out the unauthorized payments were Bankman-Fried, FTX director of engineering Nishad Singh or co-founder Zixiao Wang.
The revelations prompted Bahamian officials to request a police investigation into FTX the same day, given that the transfer of client funds could be criminal.
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FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX and Sam Bankman-FriedFTX Digital Markets co-CEO alerted the securities regulator in the Bahamas to the fraud being committed at the exchange, telling the authorities that FTX was sending customer funds to Alameda Research.
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FTX's Own Executive Tipped Off Bahamian Regulators to Possible FraudRyan Salame served as co-CEO of FTX Digital Markets in the Bahamas.
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Alameda had 'unfair' trading advantage, special access to FTX funds: CFTC filingThe US CFTC alleges that Alameda Research was afforded an 'unfair' trading advantage on FTX's cryptocurrency exchange platform and misappropriated user funds.
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FTX Digital Executive Warned of Client Fund Transfers to Alameda, Documents ShowA top executive of FTX’s Bahamas subsidiary warned that country’s securities authority days before the company filed for bankruptcy Nov. 11 of customer fund transfers to Alameda Research, a cryptocurrency trading firm tied to FTX, according to documents made public Wednesday.
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