Sam Bankman-Fried was in control of FTX, Alameda, and many other entities. He moved customer funds from FTX to Alameda and possibly to himself. It was likely one of the largest misappropriations of customer funds in history. SBF allegedly built a custom-made accounting system to hide the missing assets.
Sam Bankman Fried, who was raised by two lawyers, can't seem to keep his mouth shut despite mounting legal threats. He spoke to crypto whistleblower Tiff Fong on November 16 in an audio interview about the collapse of FTX. SBF continues to claim that the collapse happened due to his miscalculations on how leveraged he was. His lawyers were unhappy with his decision to speak out about the fiasco and he rejected their advice when they told him to stop saying it was his fault.