Founder Sam Bankman-Fried denies secretly transferring $10BN to trading company run by his girlfriend

About $2 billion of customer funds have vanished from collapsed crypto exchange FTX, according to two people familiar with the matter.

Founder and CEO Sam Bankman-Fried secretly transferred $10 billion of customer funds from FTX to the trading company Alameda Research, which is run by his girlfriend Caroline Ellison, Reuters reports.

A large portion of that total has since disappeared, they said. One source put the missing amount at about $1.7 billion. The other said the gap was between $1 billion and $2 billion.