Crypto Critics' Corner YUM YUM MONEY TIME: Deltec Bank moved customer funds from FTX to Alameda Research
Mar 16, 2024
Discussion on Deltec Bank's involvement in moving funds from FTX to Alameda Research, class action lawsuit, insolvency coverage, MUFG seizure affidavit, and the intricate web of cryptocurrency transactions involving Tether, Bitfinex, and Farmington State Bank.
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Deltec's Denial
- Deltec Bank's Twitter account, in November 2022, denied any exposure to FTX.
- Just over a year later, a lawsuit revealed their significant involvement with FTX.
Pepin's Role
- Former Deltec deputy CEO, Gregory Pepin, facilitated FTX and Alameda Research transactions.
- Pepin, according to a lawsuit, managed fund transfers between the two entities, sometimes late at night.
Pepin's Public Statements
- Pepin publicly dismissed concerns about Alameda's insolvency in November 2022.
- He later admitted being wrong and having personal losses in FTX.