CFTC

Bankruptcy Attorneys: Sam Bankman-Fried Ordered FTX Cronies to Program a Backdoor to Access Clients’ Funds

Sam Bankman-Fried had a “secret” $65 billion backdoor into FTX clients’ funds, attorneys claim, alleging that the disgraced FTX founder and Democrat super donor had ordered a co-founder to insert a secret backdoor into FTX code to funnel clients’ money into his hedge fund. The attorneys claim that SBF “bought planes, houses, threw parties, made political donations,” with client money.

Cryptocurrency exchange FTX, founded by former CEO Sam Bankman-Fried, owes an estimated $3