Here are the most shocking details of how FTX misused funds and treated customer money as its own private ATM, according to CFTC findings

• FTX customer funds were comingled with Alameda since the beginning of the exchange’s inception, according to a recent CFTC complaint.
• When Alameda’s external loans were called in, FTX customer funds were used to cover the debts.
• The complaint also alleges Bankman-Fried, his parents, and some employees used customer funds for personal purchases and loans.

On November 11, Sam Bankman-Fried’s crypto exchange FTX and its affiliated companies filed for Chapter 11 bankruptcy protection. Shortly after, he went on a media road tour telling the public that he didn’t fully know the depth of what was going on at his company, nor what could have happened to customer funds.