Its been revealed former FTX CEO Sam Bankman-Fried instructed his second-in-charge Gary Wang to create a backdoor loophole.
The line of credit was said to be worth a whopping $65 billion.
According to court documents, it helped to fund planes, houses, sponsor FTX Arena in Miami, a Formula One team, and much, much more.
This all comes on the back of the Crypto exchange recovering more than $5 billion in different assets, on top of the nearly $500 million in crypto held in the Bahamas by authorities.
The total amount it owes people and creditors is still unknown.
