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<h2 id="header-0">Key Takeaways</h2><ul><li>#Cryptocurrency exchange #FTX is investigating the disappearance of $8.9 billion in funds</li><li>Six former executives received $3.2 billion in payments and loans from FTX-linked entities, with #Sam Bankman-Fried receiving the majority of the funds</li><li>Charges have been brought against Bankman-Fried and others for conspiracy, wire and securities fraud, and some executives have pleaded guilty and are cooperating with investigations</li></ul><h3 id="ftx-is-currently-conducting-an-investigation-into-the-whereabouts-of-8-9-billion-in-missing-funds">#FTX is currently conducting an investigation into the whereabouts of $8.9 billion in missing funds</h3>FTX, the <a href="https://www.coingabbar.com/en/crypto-blogs-details/how-does-a-cryptocurrency-exchange-work" rel="noopener noreferrer nofollow">cryptocurrency exchange</a>, is currently investigating the disappearance of $8.9 billion in funds. As part of this investigation, it has emerged that six former executives received $3.2 billion in payments and loans from FTX-linked entities. The lion&#39;s share of these funds, $2.2 billion, went to #Sam Bankman-Fried, with the remaining amount divided between Nishad Singh, Gary Wang, Ryan Salame, John Samuel Trabucco and Caroline Ellison.Management at #FTX is currently looking at their legal options for taking action against the beneficiaries and the transferees of the funds in question. Yet it also notes that &#34;the quantity and timing of potential monetary recoveries cannot be estimated at this time.&#34;The investigation into missing funds at #FTX and its affiliates has led to charges being brought against Bankman-Fried and others for conspiracy, wire and securities fraud. Bankman-Fried has pleaded not guilty to eight charges, while Ellison, Wang and Singh have pleaded guilty to charges similar to those brought against Bankman-Fried and are cooperating with investigations.The first known instance of an executive from FTX or Alameda assisting authorities came as Salame blew the whistle to Bahamian regulators, which led them to shutter the exchange just two days later.FTX&#39;s administrators handling the firm&#39;s restructuring have stated that financial statements filed in the Delaware Bankruptcy Court point to billions of dollars worth of loans and payments that allegedly flowed to <a href="https://www.coingabbar.com/en/crypto-currency-news/sam-bankman-fried-ftx-founder-wants-crypto-back" rel="noopener noreferrer nofollow">Bankman-Fried</a> and high-ranking executives, mainly from trading house Alameda Research.Almost $240 million is not included since money was utilised for things like political donations, charitable contributions, and &#34;significant transfers&#34; to companies that are not FTX subsidiaries. According to FTX&#39;s management, the company is &#34;anticipated to result in the further identification of assets, obligations, and transfers&#34; as it continues to look into its legal options for taking action against the transferees and any later transferees.Also read - <a href="https://www.coingabbar.com/en/crypto-currency-news/galaxy-digital-ceo-advises-to-invest-in-gold-silver-and-bitcoin-amid-economic-uncertainty" rel="noopener noreferrer nofollow">Galaxy Digital CEO Advises to Invest in Gold, Silver, and Bitcoin Amid Economic Uncertainty</a>

FTX Investigates $8.9B Missing Funds, Former Executives Receive $3.2B in Payments

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