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vasya349 t1_j3la7w0 wrote

Reply to comment by S3IqOOq-N-S37IWS-Wd in FTX attempting to recover millions donated to charities. by imhergod

The big thing was Alameda made money from investing with FTX customer funds, meaning they could lose them if their investments went bust (and they did). But I don’t believe FTX revenues themselves (the source of the donations) were ever the property of others.

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S3IqOOq-N-S37IWS-Wd t1_j3lb7r5 wrote

Technically yes the revenues would be FTX's but things were commingled. That FTX dipped into customer funds when lending to Alameda means they didn't distinguish between their funds and customer funds. The new manager has made very clear that their accounting was a shitshow so I'm not sure you can clearly say what money was donated.

Even if they were in separate accounts, I'm sure other arguments can be made based on the liabilities created when lending out customer funds.

> Federal prosecutors and regulators allege that SBF, FTX, and its affiliates, which include defunct hedge fund Alameda Research, stole user funds and poured billions of dollars into risky bets that did not pan out.

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