FTX Crypto Trading Platform Accused of Running Profit-Making Scam with Bahamas Bank: Lawsuit Reveals Secrets
MIAMI, FL – FTX, a cryptocurrency trading platform, is at the center of a scandal involving the creation and sale of Tether stablecoins in a profit-making scheme. According to a recent lawsuit reported by Bloomberg, FTX allegedly worked secretly with Deltec Bank & Trust Ltd., based in the Bahamas, to carry out this fraudulent activity. The lawsuit, filed in a Florida court, also implicates Alameda Research, FTX’s sister firm. Caroline Ellison, former CEO of Alameda Research, provided details of the scheme in the court filing. The process involved Alameda creating Tether, also known as USDT, … Read more