FTX News Live CZ Binance Sam Bankman Fried

Alameda Research, a trading firm founded by Sam Bankman-Fried, was trading billions of dollars from FTX accounts and leveraging the exchange’s native token as collateral, according to a source.
Many employees and outside auditors were unaware that FTX did not have enough money to match customer withdrawals, the source says.
Three sources familiar with the company told CNBC that they were blindsided by FTX’s missteps and that only a small cohort knew about the potential misuse of customer deposits.