{"id":1745460,"date":"2022-11-20T06:06:03","date_gmt":"2022-11-20T11:06:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1745460"},"modified":"2022-11-20T07:33:08","modified_gmt":"2022-11-20T12:33:08","slug":"ftx-fires-sam-bankman-frieds-top-execs","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ftx-fires-sam-bankman-frieds-top-execs\/","title":{"rendered":"FTX Fires Sam Bankman-Fried&#8217;s Top Execs"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">12<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fftx-fires-sam-bankman-frieds-top-execs%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1745460&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/11\/original_sbf.jpg\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>The collapsing cryptocurrency company <a href=\"https:\/\/thepostmillennial.com\/breaking-top-dem-donor-and-ftx-founder-spotted-in-the-bahamas-with-authorities-as-billions-of-customers-dollars-missing\">FTX<\/a> fired three <a href=\"https:\/\/thepostmillennial.com\/report-ftx-ceo-detained-by-authorities-in-bahamas\">executives<\/a> on Friday, all deputies appointed by disgraced former CEO, <a href=\"https:\/\/thepostmillennial.com\/revealed-ceo-of-cratering-crypto-firm-ftx-is-dems-second-largest-donor-behind-soros\">Sam Bankman-Fried<\/a>, as the company deals with bankruptcy and restructuring under the new leadership of John J. Ray.<\/p>\n<p><a href=\"https:\/\/www.wsj.com\/articles\/bankrupt-ftx-fires-three-of-sam-bankman-frieds-top-deputies-11668825607\">The Wall Street Journal reports<\/a> that those fired were director of engineering Nishad Singh, co-founder Gary Wang, and CEO of Alameda Research, Caroline Ellison, who was in an on-again, off-again relationship with Bankman-Fried within a 10-person polyamorous &#8220;<a href=\"https:\/\/thepostmillennial.com\/sbf-blames-ex-girlfriend-for-ftx-collapse-in-unhinged-twitter-interview\">polycule<\/a>.&#8221;\u00a0<\/p>\n<p>Bankman-Fried, Singh, and Wang are all &#8220;<a href=\"https:\/\/thepostmillennial.com\/report-ftx-ceo-detained-by-authorities-in-bahamas\">under supervision<\/a>&#8221; in the Bahamas after the trio reportedly were planning on fleeing to Dubai. Authorities announced last week they intend to <a href=\"https:\/\/thepostmillennial.com\/us-plans-to-extradite-ftx-ceo-sam-bankman-fried-from-the-bahamas\">extradite<\/a> Bankman-Fried back to the US.<\/p>\n<p>$2 billion of FTX customer funds inexplicably vanished last week. At the same time, Bankman-Fried had a personal net worth of around $16 billion, but that <a href=\"https:\/\/thepostmillennial.com\/us-plans-to-extradite-ftx-ceo-sam-bankman-fried-from-the-bahamas\">reportedly has diminished<\/a> by 94 percent. He resigned from his position on November 11.<\/p>\n<p>Bankman-Fried and his deputies are alleged to all have known that FTX was transferring customer&#8217;s monies to Alameda to cover a gap in their funding.<\/p>\n<p>In an <a href=\"https:\/\/thepostmillennial.com\/sbf-blames-ex-girlfriend-for-ftx-collapse-in-unhinged-twitter-interview\">unhinged interview<\/a> for Vox, Bankman-Fried blamed his personal and <a href=\"https:\/\/thepostmillennial.com\/us-plans-to-extradite-ftx-ceo-sam-bankman-fried-from-the-bahamas\">FTX<\/a>&#8216;s downfall on Ellison and he said he &#8220;thought Alameda had enough collateral to reasonable cover it&#8221; in reference to his funneling large sums of money from FTX to Alameda.<\/p>\n<p>In a court filing on Thursday, Ray said FTX collapsed due to &#8220;the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals.&#8221;<\/p>\n<p>&#8220;I was delegated all corporate powers and authority under applicable law, including the power to appoint independent directors and commence these Chapter 11 cases on an emergency basis,&#8221; Ray added.<\/p>\n<p>Bankman-Fried and his four deputies were part of a board they called the &#8220;Future Fund,&#8221; an activist arm of &#8220;<a href=\"https:\/\/thepostmillennial.com\/sbf-blames-ex-girlfriend-for-ftx-collapse-in-unhinged-twitter-interview\">Effective Altruism<\/a>,&#8221; a philosophy to which Bankman-Fried was pledged. This movement originated out of Oxford and is a red herring for the form of socialism that overtook elite plutocrats and technocrats pledged to leftist causes who found fertile soil for wealth in the tech sector.\u00a0<\/p>\n<p>Bankman-Fried is\u00a0<a href=\"https:\/\/thepostmillennial.com\/ukraine-invested-in-top-dem-donors-crypto-company-ftx-as-biden-admin-funded-war-effort-report\">the second biggest Democrat donor<\/a>, making $39.8 million in donations, which puts him just behind George Soros and his $128 million in donations, for the 2021-22 cycle. Further, details recently emerged that FTX had partnered with <a href=\"https:\/\/thepostmillennial.com\/biden-announces-additional-800-million-in-military-aid-to-ukraine\">Ukraine<\/a> to process donations to their war efforts within days of Joe Biden pledging billions of American taxpayer dollars to the country.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The collapsing cryptocurrency company FTX fired three executives on Friday, all deputies appointed by disgraced former CEO, Sam Bankman-Fried, as the company deals with bankruptcy and restructuring under the new<\/p>\n","protected":false},"author":1,"featured_media":1741975,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[],"class_list":["post-1745460","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1745460","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1745460"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1745460\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1741975"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1745460"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1745460"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1745460"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}