FTX co-founder Sam Bankman-Fried received over $2 billion (£1.7 billion) from related parties

Sam Bankman-Fried, a co-founder of FTX, received more than $2 billion (£1.7 billion) into his personal accounts from people associated with the collapsed cryptocurrency exchange, according to court documents. Bankman-Fried and five members of his inner circle transferred a total of $3.2 billion to their personal accounts through "payments and loans," according to a Delaware bankruptcy court filing filed by new FTX management. FTX was once valued at $40 billion but quickly collapsed in November after customer withdrawals soared when rival exchange Binance scrapped its rival's bailout plan. FTX said it did not have sufficient reserves to meet the sudden spike in customer demand. The crash sent shockwaves through the digital asset industry in what has been described as a "crypto winter" and a "Lehman Brothers moment" for the industry. Crypto industry advertiser Bankman-Fried now faces 12 federal charges and is awaiting trial after pleading not guilty to fraud while running FTX. He was accused of committing securities fraud and siphoning funds from the platform for personal gain. The funds sent, including the $2.2 billion received from Bankman-Fried, came primarily from Alameda Research, an FTX-affiliated crypto trading hedge fund. Three people within FTX -- Gary Wang, Nishad Singh, and Caroline Ellison -- transferred more than $800 million in total. They pleaded guilty and cooperated with the prosecution.