A $1.8 million “Pineapple house” was allegedly funded by former FTX executives, who reportedly spent millions on niche projects unrelated to Web3 or crypto. The alleged uses of the customer funds that were allegedly misappropriated were outlined in a report by John Ray, CEO and chief restructuring officer of FTX. The report says that this included “charitable” donations made by former executives and the exchange’s co-founder Sam Bankman-Fried through the non-profit FTX Foundation. According to the report, “grants” from the FTX Foundation totaled $700,000, with $400,000 going to “an entity that posted animated videos on YouTube related to ‘rationalist’ and The post FTX CEO Claims Extravagant Spending on Cartoon, Book, and ‘Pineapple House appeared first on Cryptoknowmics-Crypto News and Media Platform .
