spot_img
HomeCrypto NewsExchangesSBF Gave $400M to Modulo Capital Cofounded by Lover

SBF Gave $400M to Modulo Capital Cofounded by Lover

Date:

Written By:

Latest News

- Advertisement -

SBF had a romantic relationship with the founder of the firm to whom he sent $400 million FTX funds.

- Advertisement -

 

A New York Times report shows that Modulo Capital, a trading firm launched in March 2022 received a total of $400 million from embattled ex-FTX CEO, Sam Bankman-Fried (SBF). SBF was also exposed to have had a close relationship with one of the founders of the company.

In December 2022, the Financial Times shared a spreadsheet that exposed two large sums that were paid to Modulo Capital by Alameda Research. In the third quarter of 2022, $250 million was sent to Modulo, while another $150 million was sent in the fourth quarter, totaling $400 million.

According to reports, one of the founders of Modulo Capital, Xiaoyun “Lily” Zhang, and SBF were involved in a romantic relationship. Zhang worked at Jane Street Capital for about a decade, coinciding with the period when SBF worked there too, in the early days of his career.

The other co-founder, Duncan Rheingans-Yoo was relatively fresh from school, having graduated from Havard just two years before the said investment was made.

- Advertisement -

Such details revealing SBF’s recklessness with funds are being dug up by the new handlers of FTX who are searching for assets that can be used to reimburse customers. Over $500 million has been seized from SBF so far, as the search for more funds continues.

- Advertisement -

Author

Ammara
Ammarahttps://thecryptobasic.com/
Ammara Mubin is a cryptocurrency reporter and trader with vast experience in the industry. Mubin has written several news stories related to the crypto industry, including non-fungible tokens (NFTs), decentralized finance (DeFi), fundraising, mining, etc. Her major focus is covering regulatory events that are capable of shaping the entire crypto ecosystem.

More from Author