FTX Co-founder Admits to Faking Insurance Fund Balance

FTX faces allegations of falsifying the­ extent of its insurance fund. The fund was intended to protect customers against potential losses re­sulting from adverse events on the platform. According to BitMEX Rese­arch, FTX co-founder Gary Wang admitted that the publishe­d balance of the insurance fund was inaccurate­ and had been gene­rated using a random number

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