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At the time, Bankman-Fried told investors it was a partial reimbursement of money he’d spent to buy out rival Binance’s stake in FTX a few months earlier, the report added.
Bankman-Fried and FTX did not immediately respond to Reuters’ requests for comment on the matter.
The Journal’s report cited FTX’s October 2021 funding round where the company had raised $420 million from a clutch of big name investors including Temasek and Tiger Global, valuing the crypto exchange at $25 billion.
Last week, FTX filed for U.S. bankruptcy protection and Bankman-Fried resigned as chief executive, after Binance walked away from its proposed acquisition.
Several crypto firms have since been bracing for a fallout from the FTX collapse, with many counting their exposure in millions to the beleaguered exchange.
