{"id":533047,"date":"2022-12-29T19:55:10","date_gmt":"2022-12-29T16:55:10","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/sam-bankman-fried-spent-200m-in-ftx-funds-on-dave-mysten-labs\/"},"modified":"2022-12-29T19:55:10","modified_gmt":"2022-12-29T16:55:10","slug":"sam-bankman-fried-spent-200m-in-ftx-funds-on-dave-mysten-labs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/sam-bankman-fried-spent-200m-in-ftx-funds-on-dave-mysten-labs\/","title":{"rendered":"#Sam Bankman-Fried spent $200M in FTX funds on Dave, Mysten Labs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a4129c4c87ea\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a4129c4c87ea\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/sam-bankman-fried-spent-200m-in-ftx-funds-on-dave-mysten-labs\/#%E2%80%9CSam_Bankman-Fried_spent_200M_in_FTX_funds_on_Dave_Mysten_Labs%E2%80%9D\" >&#8220;Sam Bankman-Fried spent $200M in FTX funds on Dave, Mysten Labs&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CSam_Bankman-Fried_spent_200M_in_FTX_funds_on_Dave_Mysten_Labs%E2%80%9D\"><\/span>&#8220;Sam Bankman-Fried spent $200M in FTX funds on Dave, Mysten Labs&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>Indicted FTX founder Sam Bankman-Fried used customer cash from sister firm Alameda Research to invest $200 million in two separate companies, according to a report.<\/p>\n<p>One of Bankman-Fried\u2019s investments went toward the banking <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a> Dave, which disclosed a $100 million windfall last March that purportedly came from FTX Ventures, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2022\/12\/28\/ftx-used-200-million-of-customer-funds-for-two-venture-investments.html\">CNBC reported<\/a> on Wednesday.<\/p>\n<p>The other $100 million investment backed Mysten Labs, a Web3 firm focused on digital infrastructure, according to the business network.<\/p>\n<p>The pair of $100 million investments was referenced in the US Securities and Exchange Commission\u2019s complaint outlining charges against Bankman-Fried, who is accused of bilking FTX customers out of billions of dollars.<\/p>\n<p>The outlet said the two $100 million deals were the only ones of their size disclosed by FTX. The feds accuse Bankman-Fried and other former FTX executives of using customer funds as their own personal piggy bank and pilfering the money to cover risky bets placed by Alameda, his cryptocurrency hedge fund, to pay for their lavish lifestyle.<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221206-92-1.jpg?w=1024\" alt=\"SBF\" class=\"wp-image-25170501\" width=\"618\" height=\"411\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221206-92-1.jpg?quality=75&amp;strip=all&amp;w=1233 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221206-92-1.jpg?quality=75&amp;strip=all&amp;w=925 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221206-92-1.jpg?quality=75&amp;strip=all&amp;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221206-92-1.jpg?quality=75&amp;strip=all&amp;w=308 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221206-92-1.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\"\/><figcaption>The SEC accused Bankman-Fried of misleading investors about FTX\u2019s financial problems.<\/figcaption><figcaption><span class=\"credit\">CQ-Roll Call, Inc via Getty Imag<\/span><\/figcaption><\/figure>\n<p>In its complaint, the SEC referenced the two investments to support its assertion that Bankman-Fried hid the truth about FTX\u2019s \u201ctenuous financial condition\u201d and \u201ccontinued to present a false and misleading positive account of the company to investors.\u201d<\/p>\n<p>In one meeting with investors in FTX\u2019s US operation, the feds said, FTX inaccurately claimed that \u201ccertain investments did not involve the assets of FTX or its customers.\u201d<\/p>\n<p>\u201cContrary to that representation, two $100 million investments made by FTX\u2019s affiliated investment vehicle, FTX Ventures Ltd., were funded with FTX customer funds that had been diverted to Alameda,\u201d the complaint said.<\/p>\n<figure class=\"wp-block-image size-large is-resized\"><img decoding=\"async\" loading=\"lazy\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-5.jpg?w=1024\" alt=\"SBF\" class=\"wp-image-25170502\" width=\"618\" height=\"411\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-5.jpg?quality=75&amp;strip=all&amp;w=1233 1236w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-5.jpg?quality=75&amp;strip=all&amp;w=925 927w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-5.jpg?quality=75&amp;strip=all&amp;w=618 618w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-5.jpg?quality=75&amp;strip=all&amp;w=308 309w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-5.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 618px) 100vw, 618px\"\/><figcaption>The alleged fraudster faces 115 years in prison.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Mysten Labs and Dave have not been accused of any wrongdoing in connection to the FTX case. Bankman-Fried faces eight federal charges that could carry a maximum of 115 years in prison.<\/p>\n<p>Dave CEO Jason Wilk told CNBC that it was \u201cimportant to state we had no knowledge of FTX or Alameda using customer assets to make investments.\u201d <\/p>\n<p>The $100 million came in the form of a short-term loan that FTX could later convert into shares in the company.<\/p>\n<p>\u201cThe note issued to FTX is due for repayment in March 2026,\u201d the company said in a statement. \u201cNo terms contained in the note trigger any current obligation by Dave to repay prior to the maturity date.\u201d<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221228-36-1.jpg?w=1024\" alt=\"SBF\" class=\"wp-image-25170481\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221228-36-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221228-36-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221228-36-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Bankman-Fried is accused of stealing billions from FTX customers.<\/figcaption><figcaption><span class=\"credit\">JUSTIN LANE\/EPA-EFE\/Shutterstock<\/span><\/figcaption><\/figure>\n<p>Meanwhile, FTX acquired an equity stake in Mysten with its $100 million investment. Mysten declined CNBC\u2019s request for comment.<\/p>\n<p>Earlier this month, current FTX CEO John Ray said the company would seek to claw back Bankman-Fried\u2019s investments and political donations that used customer funds as part of ongoing bankruptcy efforts.<\/p>\n<p>As The Post reported, a group of four FTX customers filed a class-action lawsuit against the firm and its affiliates this week. The suit asked a bankruptcy judge for FTX\u2019s remaining assets to be considered the property of bamboozled customers rather than the firm.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/29\/sam-bankman-fried-spent-200m-in-ftx-customer-funds-on-two-investments-feds\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Sam Bankman-Fried spent $200M in FTX funds on Dave, Mysten Labs&#8221; Indicted FTX founder Sam Bankman-Fried used customer cash from sister firm Alameda Research to invest $200 million in two separate companies, according to a report. One of Bankman-Fried\u2019s investments went toward the banking app Dave, which disclosed a $100 million windfall last March that&#8230;<\/p>\n","protected":false},"author":1,"featured_media":533048,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/sam-bankman-fried-221228-34-1.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135234,89897,137779,71006],"class_list":["post-533047","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-sam-bankman-fried","tag-12-29-22","tag-fraud"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/533047","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=533047"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/533047\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/533048"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=533047"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=533047"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=533047"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}