All the money ($8b) sent to FTX by users went through Alameda bank accounts first. It just keeps getting worse…

We all may have thought that the FTX scandal could not get worse but it today actually got a lot worse. The same person who handled Enron just said that FTX is the worst thing he ever saw, that speaks a lot of volume.

Now it also got revealed by SBF himself, that all the money that the user sent to FTX, first went through Alameda Research bank accounts. Thats like $8b that went through Alameda by users who just sent crypto.

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From twitter BTC_Archive

This message by SBF confirms it himself, according to him they “forgot“ that there was an account linked to Alameda. That according to him is an explanation, why Alameda Research had so much money from FTX.

Now I do not know whether this is an even worse explanation that they “forgot“ about an account linked to Alameda or that they were loaning it to them, both is just as bad according to me. Surely there will be even more reveals on what kind of fraud they were running as we are just a week in since FTX declared Chapter 11 bankruptcy.