Crypto collapse: FTX’s fall is one piece of a long, cold, contagious crypto winter
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The suit alleges Friedberg enabled Sam Bankman-Fried and others to misappropriate billions in customer funds leading up to the catastrophic collapse of the company late last year, according to Bloomberg. The fall of FTX was just one part of the ongoing crypto winter.
The suit lays out the allegations:
Friedberg and others facilitated the routing of billions of dollars in purported profits of the FTX Group to the FTX Insiders, and their families, friends, and other acquaintances through purported personal ‘loans,’ bonuses, ‘investments,’ and all other means of transfer, including real estate purchases and hundreds of millions of dollars in charitable and political contributions.
