Sam Bankman-Fried (SBF) Moved at Least $10 Billion Between FTX and Alameda Research and Created a $65 Billion LOC from FTX Customers Without Their Consent or Knowledge

Sam Bankman-fried (SBF) took $65 billion from FTX accounts without the customer’s knowledge. 

A couple of days ago SBF released his manifesto where he claimed that he did nothing wrong that resulted in cryptocurrency exchange FTX going bankrupt.  He said if he would have been able to receive more funds he could have paid off the debt that was due which sounds more like a Ponzi scheme than apparently SBF understood.

Sam Bankman-Fried Seen Chillin’ Like a Villain in the Business Class Lounge at JFK Before Flying Back to Parents’ Home

One thing SBF left out in his manifesto was that he had $65 billion removed from FTX cryptocurrency accounts.

The Daily Mail reported:

A bombshell testimony has revealed that the co-founder of cryptocurrency exchange FTX was ordered by Sam Bankman-Fried to create a ‘secret’ backdoor to funnel money to Alameda Research.

Attorney for FTX Andrew Dietderich told the Delaware bankruptcy court on Wednesday that Gary Wang was told to create the secret line of credit of customer funds from FTX to the hedge fund.

Dietderich told the court that Wang ‘created this backdoor by inserting a single number into millions of lines of code for the exchange’ creating the line of credit, which ‘customers did not consent’ to.

The FTX attorney testified that the backdoor was a ‘secret way for Alameda to borrow from customers on the exchange without permission,’ Business Insider reported.

‘Wang created this backdoor by inserting a single number into millions of lines of code for the exchange, creating a line of credit from FTX to Alameda, to which customers did not consent,’ Dietderich testified.

‘And we know the size of that line of credit. It was $65 billion.’

Business Insider goes on to report that at least $10 billion was moved between FTX and Alameda with another $2 billion unaccounted for.

What Americans really want to know is how much money went to dirty politicians’ accounts. 

Photo of author
Joe Hoft is a Radio Host at, Author, Former International Corporate Executive in Hong Kong for a Decade, and a Contributor at TGP since 2016. Joe is the author of five books, including his new bestseller, "The Steal: Volume II - The Impossible Occurs" which addresses the stolen 2020 Election and provides an inventory of issues that prove that the 2020 Election was uncertifiable and never should have been certified for Joe Biden.