THE BINANCE CRYPTO BANK RUN ON FTX, UNCOVERED A BILLION POUND PROBLEM

BINANCE CRYPTO BANK RUN ON FTX, UNCOVERED A 5 BILLION POUND PROBLEM! Sam Bankman & THE 5 BILLION POUND PROBLEM!
"So some of them would wire money to Alameda and then ask to be credited on their FTX account." He estimates more than half of Alameda's total position came through these wired customer funds to its bank accounts — and thinks this would be more than $5 billion.

"One phrasing of it...would be to say that Alameda effectively sent those dollars from its FTX account to the user, but that’s a ledger transfer of course. Outside of that the answer is, they were wired to Alameda — I can only speculate about what happened after that."

"I wasn’t running Alameda. I can now go back and take a guess at...where they were ultimately spent, or used, or something."

"But dollars are fungible with each other, so it's not like this one dollar bill over here that you can trace through from start to finish. What you get is more just omnibus pots of assets at various forms."