FTX Confirms $8.9B in Customer Funds are Missing
It has been almost four months since the crypto currency exchange FTX collapsed. Yet, developments pertaining to the exchange, its executives, and customers continue to take place. A recent report from the Wall Street Journal pointed out that $8.9 billion worth of customer funds have been unaccounted for and therefore missing. JUST IN: FTX confirms $8.9 billion in customer funds are missing. — Watcher.Guru (@WatcherGuru) March 2, 2023 Also Read: Former FTX Director Nishad Singh Pleads Guilty to US Criminal Charges Shortfall to be attributed to Alameda Research? This is the first time the exchange has revealed a number pertaining to the fund deficiency. The exchange has reportedly pinned down around $2.7 billion in customer assets, relative to $11.6 billion of the balance outstanding on customer accounts. The estimated value of FTX ’s assets and liabilities is based on asset prices in November 2022, when the firm filed for bankruptcy. Alameda Research had borr...