FTX Leadership Uncovers $3.2 Billion Paid Out to Former Execs
- The new leadership of FTX has uncovered $3.2 billion worth of direct payments to former execs during the platform’s operation.
- This sum does not take into account salaries and other legitimate operational expenses, nor does it include luxury real estate purchases or political donations.
- The new leadership will attempt to recover as many of these missing funds as possible from the former company executives.
The FTX Group’s balance sheets were poorly kept at best and deliberately fraudulent at worst, prompting the appointment of a new leadership team tasked with untangling them. This process led to the discovery of $3.2 billion worth of direct payments to former execs during the platform’s operation. The total amount did not include salaries and other legitimate operational expenses, over $240 million spent on luxury real estate in the Bahamas, or any political donations made by the FTX Group.