Does FTX have a partnership with Dave?

"We have not launched any products in partnership with FTX and no customers are exposed through Dave," the company spokesperson said in a statement to Reuters. "The note issued to FTX is not due for repayment until March 2026. No terms contained in the note trigger any current obligation by Dave to repay prior to the maturity date."

How does FTX work?

The exchange acted like an unregulated bank, allowing people to trade money for crypto coins, such as Bitcoin, and store their funds for safekeeping. At its peak, FTX executives said the platform was facilitating $10bn-$15bn trading every day. In early 2022, FTX was valued at $32bn and was on its way to becoming a household name.

When did FTX start?

Until late 2022, FTX was one of these trading platforms. Sam Bankman-Fried started FTX in 2019. Customers began opening accounts on FTX to trade and buy cryptocurrency, and top venture capital investors started pouring in. By January 2022, the company was worth $32 billion. However, that came to an end in November 2022.

Did FTX transfer $10 billion to Alameda?

Nov. 11: Reports emerge that FTX transferred $10 billion to Alameda, its sister company, sparking concern about what source of access top leaders had to the company's finances. Nov. 13: News organizations begin reporting that much of the money transferred out of FTX in its final hours has disappeared.