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Sam Bankman-Fried explains the $8 billion hole in FTX's Alameda Research.
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Bloomberg journalist asked SBF if they had misplaced $ 8 billion. SBF responded that it was mis-accounted for.
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"Where did the $8 Billion go?" SBF responded by listing Alameda Research's largest cash flows and FTX.
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The gap that needed to be filled was growing. FTX initially put it at $2 Billion, then $5 Billion, and finally, more than $8 Billion.
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Bloomberg also reported that SBF and a skeleton team of employees spent the weekend trying to raise money to repay customers and plug FTX's $8 billion hole.
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SBF stated in the interview that Binance paid $2.5 billion to cover its investment in FTX.
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SBF also mentioned $250 million for realty, $1.5 Billion for expenses, $4B for venture capital investments, and $1.5 Billion for acquisitions.
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