Bankman-Fried received a $1 billion personal loan from his company

Sam Bankman-Fried, the founder of the FTX exchange and Alameda Research, a cryptocurrency trading platform, seemed to confuse his bank and his companies.

According to John Ray, the new CEO responsible for restructuring his empire that went bankrupt on Nov. 11, Bankman-Fried received a $1 billion personal loan from Alameda.

He’s not alone: ​​The company, which is a cryptocurrency hedge fund of sorts, has also loaned $543 million in personal loans to Nishad Singh, a Bankman-Friend associate, and $55 million to Ryan Salame, the co-CEO of FTX Digital Markets, one of the subsidiaries of FTX.

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