FTX Bankruptcy Team Eyes $71 Million Recovery From SBF’s Sham Science Fund

FTX administrators filed that the funds were deployed for Sam Bankman-Fried’s “personal aggrandizement” rather than actual scientific advancements and innovation. Bankman-Fried’s NGO Latona received over $71 million from the crypto exchange and sister firm Alameda Research between February and October 2022. The bankrupt crypto firm had recovered $5 billion in customer cash and cryptocurrencies as of January 2023, lawyers for the exchange said. Bankruptcy CEO John Ray and the FTX bankruptcy team filed to recover millions in customer funds redirected