Bankman-Fried’s handling of FTX’s finances is under immense scrutiny.
Disgraced former FTX CEO Sam Bankman-Fried reportedly gave himself a $300 million windfall last year when his then-red-hot cryptocurrency exchange secured a massive fundraising round.
Of the massive total, $300 million went to Bankman-Fried after he sold a portion of his personal stake in FTX, thereported Friday, citing financial records and people familiar with the transaction. The 30-year-old reportedly told investors the money was a partial reimbursement after he bought out rival platform Binance’s stake in FTX some months earlier.
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WSJ News Exclusive | FTX’s Sam Bankman-Fried Cashed Out $300 Million During Funding SpreeNearly three-quarters of the $420 million that FTX raised in a fundraising blitz last year went to founder Sam Bankman-Fried, who sold some of his personal stake in the company, according to FTX financial records reviewed by The Wall Street Journal and people familiar with the transaction.
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