Bankman-Fried Received $1Bn in Personal Loan from His Company

Sam Bankman-Fried, the founder of the FTX exchange and Alameda Research, a cryptocurrency trading platform, seemed to confuse his bank and his companies.

According to John Ray, the new CEO in charge of the restructuring of his empire which went bankrupt on November 11, Bankman-Fried received a personal loan of $1 billion from Alameda. 

He is not alone: ​​the firm, which is a kind of cryptocurrency hedge fund, has also lent $543 million in personal loan to Nishad Singh, an associate of Bankman-Friend, and $55 million to Ryan Salame, the co-CEO of FTX Digital Markets, one of FTX’s affiliates.

Source: https://www.thestreet.com/investing/cryptocurrency/bankman-fried-received-1bn-in-personal-loan-from-his-company?puc=yahoo&cm_ven=YAHOO&yptr=yahoo