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FTX’s Sam Bankman-Fried Cashed Out $300 Million During Funding Spree 🥶


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According to reports, FTX founder Sam Bankman-Fried cashed out $300 million in personal stakes from a $420 million funding round for FTX that occurred in October 2021. The funds were raised under the premise of using the money to help grow the business, improve user experience and allow it to engage more with regulators. SBF told investors at the time that he was withdrawing the funds to partially reimburse himself for money he’d spent to buy out Binance’s stake in FTX a few months earlier.

https://www.wsj.com/articles/ftxs-sam-bankman-fried-cashed-out-300-million-during-funding-spree-11668799774

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