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PANews June 9th, according to a report by News.bitcoin, based on FTX's bankruptcy report, FTX once borrowed more than 13 million US dollars from Australian internet celebrity Alex Saunders, with the aim of helping him repay investor debts, to prevent potential reputation damage and avoid legal action.
The FTX bankruptcy report states that Australian influencer, Alex Saunders, received a loan of 13.2 million US dollars (17.5 million Australian dollars) from the exchange in July 2021. The loan was reported as an advance payment to help Saunders repay his debts to the creditors. However, this report contradicts Saunders' previous statement, claiming to have raised approximately 11 million US dollars from retail investors, friends, and family. The funds were then transferred to a crypto wallet controlled by him. At that time, Saunders informed his supporters that the funds would be used to develop encryption protocols. However, it is mentioned that he broke his promise after transferring a large sum of money to FTX. According to investigator Robert J. Cleary's report, Saunders squandered the creditors' funds while trading on FTX.com, leading to several investors filing lawsuits. It is reported that FTX was willing to provide a loan worth millions of dollars to Saunders to avoid reputational damage and legal action.