FTX secretly funded crypto news site – Axios

Dec 9 (Reuters) – Cryptocurrency trade FTX secretly funded media firm the Block for over a yr with cash despatched to the Block’s chief government, Axios reported on Friday, citing sources.

The Block’s workers had been beforehand unaware of the funds, according to the report.

FTX didn’t instantly reply to a Reuters request for remark, whereas FTX’s former Chief Executive Sam Bankman-Fried didn’t reply to a cellphone name and textual content message searching for remark.

Regulators across the globe, together with within the Bahamas the place FTX relies and within the United States, are investigating the function of FTX’s high executives within the agency’s gorgeous collapse, Reuters beforehand reported.

The crypto trade filed for chapter final month after a liquidity disaster that noticed a minimum of $1 billion of buyer funds vanish.

Reporting by Anirban Chakroborti in Bengaluru and John McCrank in New York; Editing by Shounak Dasgupta

Our Standards: The Thomson Reuters Trust Principles.


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