FTX's Sam Bankman-Fried put $20 million into a big VC fund that then took a stake in the crypto exchange right back

Jan 11 2023 by Business Insider

 
FTX is currently undergoing Chapter 11 bankruptcy proceedings.

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FTX's ex-boss Sam Bankman-Fried poured $20 million into large VC fund Paradigm, per the FT.  That same fund invested in the collapsed crypto exchange right back, amounting to about $215 million.  It's cofounder has previously stated he "deeply regrets" backing Bankman-Fried's exchange. 

Disgraced FTX founder Sam Bankman-Fried piled in millions into a large venture capital fund that then took a stake in the...

Continue Reading FTX's Sam Bankman-Fried put $20 million into a big VC fund that then took a stake in the crypto exchange right back