‘Oops’: What FTX staff wrote on spreadsheet showing $20billion in losses as co-founder Gary Wang testifies at Sam Bankman-Fried trial the company had been stealing its customers’ money for three years before it collapsed

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FTX staff wrote ‘oops’ on a spreadsheet which showed it owed $20billion five months before it collapsed.

A court in New York heard that Sam Bankman-Fried, the boss of the failed crypto exchange, ordered his staff to prepare the document in July 2022 as investors demanded their money back.

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Crypto prices had tumbled and the industry was spooked, so Bankman-Fried wanted a full accounting of FTX’s debts.

Next to an entry for ‘expenses’ which was -$172million, one of the senior staff wrote: ‘Oops, this sounds like not a thing we should be counting?’

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The spreadsheet emerged during the testimony of FTX co-founder Gary Wang, 31, one of the star witnesses for the prosecution which claims that Bankman-Fried cheated customers out of $10billion

https://www.dailymail.co.uk/news/article-12602901/Oops-FTX-staff-wrote-spreadsheet-showing-20billion-losses-founder-Gary-Wang-testifies-Sam-Bankman-Fried-trial-company-stealing-customers-money-three-years-collapsed.html