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Galston Daniel Henninger Holman W. Jenkins Andy Kessler William McGurn Walter Russell Mead Peggy Noonan Mary Anastasia O'Grady Jason Riley Joseph Sternberg Kimberley A. Strassel Allysia Finley More Editorials Commentary Future View Houses of Worship Cross Country Letters to the Editor The Weekend Interview Potomac Watch Podcast Foreign Edition Podcast Free Expression Podcast Opinion Video Notable & Quotable * Books & Arts Reviews Film Television Theater Masterpiece Series Music Dance Opera Exhibition Cultural Commentary Art Sections Arts Books More WSJ Puzzles Life Video Arts Video What To Watch * Real Estate Sections Commercial Real Estate More Real Estate Video * Life & Work Sections Cars Careers Food & Drink Home & Design Ideas Personal Finance Recipes Travel Wellness Columns Your Health Work & Life Carry On Bonds Turning Points On Wine On The Clock More WSJ Puzzles Space & Science * Style Sections Lifestyle Fashion Film Television Music Art & Auctions Columns My Monday Morning Off Brand On Trend * Sports Sections Beijing 2022 Olympics MLB NBA NFL Golf Tennis Soccer Columns Jason Gay Search FTXCrypto Turbulence Fall of Bankman-FriedWho's WhoNew CEOAuditorsGenesis LoanRisky BusinessWhat Went WrongJason ZweigNewsletter Signup This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/articles/ ftxs-sam-bankman-fried-cashed-out-300-million-during-funding-spree-11668799774 * WSJ News Exclusive * Cryptocurrency FTX's Sam Bankman-Fried Cashed Out $300 Million During Funding Spree Cryptocurrency-exchange founder told investors last year that the share sale was partial reimbursement of money he'd spent to buy out rival Binance's stake Cryptocurrency exchange FTX was seen as a survivor in a struggling industry, but over the course of six days the exchange collapsed due to a sudden liquidity crunch. WSJ explains the factors that drove FTX's growth and what led to its downfall. Illustration: Alexandra Larkin By Eliot Brown , Caitlin Ostroff and Berber Jin Nov. 18, 2022 2:29 pm ET print Listen to article (2 minutes) When FTX raised $420 million from an array of big-name investors in October last year, the cryptocurrency exchange said the money would help grow the business, improve user experience and allow it to engage more with regulators. Left unmentioned was that nearly three-quarters of the money, $300 million, went instead to FTX founder Sam Bankman-Fried, who sold some of his personal stake in the company, according to FTX financial records reviewed by The Wall Street Journal and people familiar with the transaction. [wsj-logo-b] Continue reading your article with a WSJ membership View Membership Options Already a member? 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