Business ProfileforFTX US
Current Alerts For This Business
On August 28,2024 The Commodity Futures Trading Commission announced the U.S. District Court for the Southern District of New York entered a consent order of permanent injunction and other equitable relief against FTX Trading Ltd. and Alameda Research LLC (together, FTX) and ordered FTX to pay $12.7 billion in monetary relief to FTX customers and victims of FTX’s fraud. The order requires FTX to pay $8.7 billion in restitution and $4 billion in disgorgement, which will be used to further compensate victims for losses suffered as a result of the massive fraudulent scheme orchestrated by Samuel Bankman-Fried, his now-bankrupt FTX group of companies, and a core group of FTX insiders.
The founder Sam Bankman-Fried was sentenced in March to 25 years in prison for stealing $8bn from customers. He has appealed the conviction. The order finds FTX and Alameda made material misrepresentations and omissions to customers. For more details go here.
In August 2024, BBB investigated FTX US's business practices. This investigation was prompted by consumer complaints alleging the business has been withholding consumers financial funds and after sending billions of dollars to FTX, believing their assets were secure on the FTX trading platform.
per the details of the lawsuit, Bankman-Fried the Owner improperly diverted customer
assets to his privately-held crypto hedge fund, Alameda Research LLC (“Alameda”), and then
used those customer funds to make undisclosed venture investments, lavish real estate purchases,
and large political donations.
BBB is currently reaching out to the business for any information regarding the business current standing.
On 08/13/2024, and 08/19/2024 BBB requested additional information. As of 8/27/2024, BBB has not received any response from the business.
Based on the information detailed above, BBB cannot confirm the legitimacy of FTX US.
Additional business information
At-a-glance
Related Categories
Business Details
This is a multi-location business.
- Headquarters
- 167 N. Green St., Chicago, IL 60607
- BBB File Opened:
- 8/15/2022
- Business Started:
- 6/1/2019
- Type of Entity:
- Corporation
- Alternate Business Name
- West Realm Shires Services Inc.
- Business Management
- Mr. Brett Harrison, President
- Mr. Sam Bankman-Fried, Founder/Owner
- Contact Information
Principal
- Mr. Brett Harrison, President
Customer Contact
- Mr. Sam Bankman-Fried, Founder/Owner
Customer Complaints
41 Customer Complaints
Need to file a complaint? BBB is here to help. We'll guide you through the process. How BBB Processes Complaints and Reviews
File a ComplaintMost Recent Customer Complaint
04/16/2023
- Complaint Type:
- Billing Issues
- Status:
- Unanswered
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