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The collapsing cryptocurrency company FTX fired three executives on Friday, all deputies appointed by disgraced former CEO, Sam Bankman-Fried (SBF), as the company deals with bankruptcy and restructuring under the new leadership of John J. Ray.
The Wall Street Journal reports that those fired were director of engineering Nishad Singh, co-founder Gary Wang, and CEO of Alameda Research, Caroline Ellison, who was in an on-again, off-again relationship with SBF within a 10-person polyamorous “polycule.”
SBF, Singh, and Wang are all “under supervision” in the Bahamas after the trio reportedly were planning on fleeing to Dubai. Authorities announced last week they intend to extradite SBF back to the US.
$2 billion of FTX customer funds inexplicably vanished last week. At the same time, SBF had a personal net worth of around $16 billion, but that reportedly has diminished by 94 percent. He resigned from his position on November 11.
SBF and his deputies are alleged to all have known that FTX was transferring customer’s monies to Alameda to cover a gap in their funding.
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