The reputation of cryptocurrencies has suffered a serious blow over the past few days. That’s when the initial troubles of the FTX cryptocurrency exchange turned into its downfall. People close to the stock exchange even talk about the strange transfers of hundreds of millions of dollars of its clients.
Money has disappeared from FTX accounts
According to sources cited by Reuters, clients of the FTX cryptocurrency exchange are missing at least a billion dollars. They were supposed to mysteriously disappear from the FTX accounts. The exchange’s founder and owner, Sam Bankman-Fried, secretly transferred about $10 billion from FTX accounts to the accounts of another of his companies, Alameda Research, according to these sources.
$1 billion to $2 billion missing
However, a large part of this sum was to be lost. One of the sources cited by Reuters puts the figure at around $1.7 billion, while the other puts it at between $1 billion and $2 billion. Bankman-Fried told Reuters that the transfer of ten billion dollars was by no means secret. But where the one to two billion dollars went, the founder of the FTX exchange did not say.
Bitcoin’s value continued to fluctuate dramatically over the weekend. On Friday, Bitcoin rose sharply, only to lose ground again on Saturday, trading below $17,000. Other cryptocurrencies have seen similar fluctuations.
