Bankrupt cryptocurrency exchange FTX has revealed a massive shortfall in its digital asset and fiat currency holdings, with billions worth of customer funds missing from both the exchange and its United States-based arm, FTX US. In total, FTX recorded an $8.6 billion deficit across all wallets and accounts while FTX US recorded a deficit of $116 million. Among the week’s headlines, former FTX engineering director Nishad Singh pleaded guilty to charges of wire fraud along with wire and commodities fraud conspiracy. Singhs plea follows a number of Sam Bankman-Frieds close associates reportedly agreeing to cooperate with U.S. prosecutors in recent months.
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Source: Cryptocurrency - investing.com
