FTX's Alleged $8.7 Billion Fund Exploitation and Deception Unveiled

A new report on the bankrupt crypto exchange FTX alleges that the company's former executives, including CEO Sam Bankman-Fried, engaged in widespread illegality and criminal behavior, misusing approximately $8.7 billion in customer funds. The report reveals that FTX executives commingled customer deposits with corporate funds and used the money for speculative trading, luxury properties, political contributions, and personal investments. The report also accuses Bankman-Fried of creating "sham" documents to hide irregular financial dealings. Bankman-Fried is facing federal charges and a judge has denied his motion to dismiss most of the charges.