Former cryptocurrency exchange FTX paid out more than $25 million to six whistleblowers who discovered problems with it. However, FTX still owes about $11 billion to investors who lost money after the exchange collapsed. 😮💰

One of the whistleblowers, the executive director of FTX.US, revealed that FTX Group misled regulators and investors and did not have an adequate corporate structure. He wrote a letter to former CEO Sam Bankman-Fried, former FTX engineer Nishad Singh and former FTX lawyer Dan Friedberg, expressing his concerns.

According to Friedberg, the whistleblower should not have written the letter, especially because FTX Group may not meet investors' expectations. He also recommended that the whistleblower apologize to Bankman-Fried. The whistleblower resigned in September 2022 and received more than $16 million in compensation, according to the report.

FTX went bankrupt in November 2022 and has been going through the bankruptcy process ever since. A year later, a jury in New York found Bankman-Fried guilty on all seven criminal charges of defrauding FTX customers, creditors and investors. He was sentenced to 25 years in prison.