Right here’s the factor: It appears not possible that FTX might have afforded these investments, together with its different huge expenditures, merely from three years of change income and its personal enterprise capital inflows of $1.8 billion. Perhaps among the FTX Ventures stakes used pretend FTX cash like FTT, so there’s extra work to be executed. However quite simple arithmetic strongly suggests not solely that FTX was dipping into buyer funds, however that the folks operating FTX couldn’t probably have been blind to that reality.
