Brian Armstrong: "The reason for the collapse of FTX cannot be an accounting error" – Bits Media

Coinbase CEO Brian Armstrong criticized the statement of the former head of FTX about, that the reason for the collapse of the exchange was the "accounting error" on $8 billion. He considers, that the funds were stolen.

Brian Armstrong (Brian Armstrong) Wrote on Twitter, that billions dollars could not just slip away from the attention of the founder and former CEO of FTX Sam Bankman-Fried (Sam Bankman-Fried), which graduated from the Massachusetts Technological Institute with a degree in physics.

“No matter how erratic your accounting was, You will definitely notice, If additional ones appear $8 billion, which can be spent on your goals. Even the most trusting person will not believe Sam's statement about that, that it was just an accounting error ", - said Armstrong.

In his opinion, The root cause of all problems was the theft of Bankman-Firide of customer money and their transfer to another of his company-Alameda Research. Recall, that according to the information agency Reuters, FTX exchange loss may be associated with the intention of the CEO to support Alameda Research.