Bogus Theory Misinterprets FTX Support for Ukraine
Quick Take
The bankruptcy of FTX, one of the world’s largest cryptocurrency exchanges, has sparked an unfounded claim that its former CEO had conspired with Ukraine and Democratic politicians to launder U.S. aid money. FTX helped make crypto donations available to Ukraine; it wasn’t taking any assets from Ukraine.
Full Story
FTX, which had been one of the largest cryptocurrency exchanges in the world, filed for bankruptcy on Nov. 11 after a deal fell through for it to be acquired by a larger rival and its customers scrambled to withdraw their money.
The exchange had been lending customer deposits to the hedge fund owned by its then-CEO, Sam Bankman-Fried, which is at least part of the reason why there wasn’t enough money available to repay all of FTX’s customers, Bankman-Fried said in an interview following the bankruptcy.
Russian state
