Ryan Salame served as co-CEO of FTX Digital Markets in the Bahamas.
indicates that the company’s own Ryan Salame, who served as FTX Digital Markets co-chief executive officer, was the one to initially blow the whistle on the exchange’s shady dealings. Salame allegedly told island regulators on November 9 that client assets were being held at Alameda Research to cover financial losses, according to unsealed court documents cited by Financial Times.
Regrettably, the Commission was informed today by Mr. Ryan Salame who is the Chairman of FTX Digital that clients’ assets which may have been held with FTX Digital were transferred to Alameda Research . Alameda and FTX Digital are related companies, specifically, Mr. Samuel Bankman-Fried is a founder of both FTX Digital and Alameda.
The Commission understood Mr. Salame as advising that the transfer of clients’ assets in this manner was contrary to the normal corporate governance and operations of FTX Digital. Put simply, that such transfers were not allowed and therefore may constitute misappropriation, theft, fraud or some other crimeThe letter further details that Salame claimed that only three people had the credentials to transfer client funds between FTX and Alameda—one of whom was Sam Bankman-Fried.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Top FTX Group Executive Tipped Off Bahamas Authorities About Comingling of Funds in NovemberCo-CEO of FTX_Official's Bahamas entity rsalame7926 told the Bahamas Securities Commission that FTX Digital Markets had transferred client funds to Alameda Research without authorization.
Read more »
Senior FTX Executive Tipped Off Bahamas About Alameda Transfers | CoinMarketCapcryptonews: A senior executive within FTX tipped off the Bahamian authorities about customer funds being used to cover losses at Alameda Research.
Read more »
FTX Bahamas co-CEO Ryan Salame blew the whistle on FTX and Sam Bankman-FriedFTX Digital Markets co-CEO alerted the securities regulator in the Bahamas to the fraud being committed at the exchange, telling the authorities that FTX was sending customer funds to Alameda Research.
Read more »
Former FTX spokesman Kevin O'Leary says he believes Binance put FTX 'out of business intentionally'Ex-FTX spokesman Kevin O'Leary told a Senate committee Wednesday he believes FTX rival Binance put the fallen crypto exchange 'out of business intentionally.'
Read more »