Ryan Salame was the FTX snitch

A senior FTX Group executive briefed Bahamian authorities on the composition of the funds in November

An executive at the FTX group of companies told Bahamian police that funds were mixed between the cryptocurrency exchange and its sister trading firm Alameda Research on Nov. 9. As the court documents show.

Ryan Salame, co-CEO of FTX’s Bahamian unit called FTX Digital Markets, told the Bahamas Securities and Exchange Commission on Nov. 9 that “client assets that may have been held by FTX Digital are being transferred to Alameda Research.” According to a letter to the Bahamian police chief released this week.

This would constitute “embezzlement, theft, fraud or other crime,” wrote Commissioner Christina Rolle, executive director of the Bahamas Securities Commission.

Salame said there were only three people who could have transferred the funds; former CEO Sam Bankman-Fried, Nishad Singh and Gary Wang.

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First reported case of FTX complaint, and it’s no surprise

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  1. […] FTX Digital Markets co-CEO Ryan Salame notified the Bahamas Securities and Exchange Commission (SCB) on Nov. 9 that FTX had transferred […]