The post FTX had more than prostitutes in Thailand appeared on BitcoinEthereumNews.com.

Sam Bankman-Fried’s globe-spanning empire of rapidly moving money and crypto has been under the microscope of prosecutors, and among the evidence considered was the testimony of former Alameda Research ‘chief executive officer’ Caroline Ellison. During her testimony, Ellison detailed an attempt to un-freeze funds at Huobi (now HTX) and OKEx (now OKX) via accounts opened using identity documents from “Thai prostitutes.” This scheme was ultimately unsuccessful. However, Bankman-Fried’s financial empire had other links to Thailand, through the Hong Kong-headquartered over-the-counter (OTC) trading desk Genesis Block. Genesis Block is principally remembered in the Bankman-Fried empire as the crypto shop where purchasers queued around the street with bags full of cash they wanted to convert to crypto. The desk has been described as being “integrated” into FTX or Alameda Research, with Genesis Block’s website acknowledging that “Alameda Research will also provide the technology that acts as the backbone for Genesis Block’s new OTC portal.” One of the founders of this desk, Clement Ip, was a director of FTX’s Hong Kong entity.  The FTX bankruptcy has also revealed a ‘Digital Assets Accounts Control Agreement Dated 11/3/2020’ and a ‘Loan Agreement Dated 12/10/2021’ between Genesis Block Limited and an FTX Group company.  One of the lesser discussed details about Genesis Block is the existence of its activities in Thailand, but it was in no way a secret and was mentioned explicitly on the company’s website.  Image from LinkedIn user who identifies himself as Genesis Block Thailand’s former investment analyst and business development executive. Read more: Sam Bankman-Fried’s defense team failed to crack Caroline Ellison Attendees at the Block Mountain conference in Thailand may even have been clued into the relationship if they visited the Thank You Party hosted by Genesis Block Thailand and FTX.  It’s a little difficult to determine the full activities beyond sponsoring…

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Filed under: News - @ October 20, 2023 6:26 pm