FTX Collapses; Founder Bankman-Fried Seen in Bahamas

Objectivity 4.0 | Credibility 4.8 | Relevance 4.8

FTX founder Sam Bankman-Fried was seen in the Bahamas on Saturday after the sudden collapse of his cryptocurrency empire, with up to $2 billion in customer funds reported missing.  The downfall of the company came after reports that Bankman-Fried had funneled $10 billion of customers’ funds into Alameda Research, a trading company run by his girlfriend, Caroline Ellison.  Since 2020, it has been reported that Bankman-Fried has donated $50 million to Democrats, and the second biggest donor to the party in 2021.  Ahead of the FTX debacle, news of the mysterious death of pioneering cryptocurrency developer Nikolai Mushegian broke less than 2 weeks ago.