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Sam Bankman-Fried, the CEO of FTX, stated that he believed Alameda, a sister firm, was allowed to borrow funds from the exchange under FTX's terms of service. The terms of service were drafted and updated by FTX.
🚨Breaking: Sam Bankman-Fried thought 'taking FTX deposits through Alameda was legal'
📣 Latest News: Sam Bankman-Fried thought 'taking FTX deposits through Alameda was legal': Report #news #cryptonews #crypto
Sam Bankman-Fried has said he honestly believed Alameda could liberally borrow FTX customer assets, per NYT.
🔸Bankman-Fried Says He Believed Alameda Could Borrow FTX Funds Sam Bankman-Fried said he believed that under FTX's terms of service, sister firm Alameda was allowed in many circumstances to borrow funds from the exchange. The terms of service were drafted and updated by FTX… https://t.co/PhNNWaUdhj
JUST IN: Sam Bankman-Fried says he believed it was legal to take FTX customer funds through Alameda Research.