FTX-Tether Connection: Involvement Of Banks Raises Questions

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Beleaguered crypto exchange FTX’s connection with Tether remains in question as the banks used by both companies are run by the same person. FTX’s Alameda Research invested $11.5 million in Farmington State Bank’s parent FBH, run by Jean Chalopin. Surprisingly, Chalopin is also the chairman of Bahamas-based Deltec Bank, the main bank of Tether.

FTX and Alameda’s Tether Connection

The bankruptcy of FTX uncovers surprising investments by SBF and raises questions about its operations, reported the New York Times on November 23. In March, FTX through its trading firm Alameda Research invested $11.5 million in a small Farmington State Bank’s parent FBH based in Washington. The bank has a single branch and three employees, with no online banking or credit card facilities. https://dorkye.com/ftx-tether-connection-involvement-of-banks-raises-questions/?ch=cryto

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