Indicted FTX founder Sam Bankman-Fried used customer cash from sister firm Alameda Research to invest $200 million in two separate companies, according to a report.
One of Bankman-Fried’s investments went toward the banking app Dave, which disclosed a $100 million windfall last March that purportedly came from FTX Ventures, CNBC reported on Wednesday.
The other $100 million investment backed Mysten Labs, a Web3 firm focused on digital infrastructure, according to the business network.
It looks worse every day, now he has been caught lying about the source of funds for these two “investments.” He is scheduled to make a plea Jan 3. I have no idea which way he will go, but he seems “entitled” enough to claim innocence.
