Details of people affected by the FTX crypto-exchange collapse continue to be revealed. Overall, billions of dollars are feared to be lost. Authorities in The Bahamas have investigated & recovered a small portion, $473-million. However, for the platform users affected, it’s not nearly enough of the estimated $1-Billion of customer funds that’s not been returned. And just recently it was revealed Brian Jung, a popular YouTube host from Maryland, accounts for $500,000 of the missing cryptocurrency.
Brian Jung Was Traveling During Crash
From a glance at Brian’s Instagram, one may think the multi-millionaire YouTuber has not lost much. He’s always posting iconic photos of his travels around Maryland, New York City, and most recently Korea. But he’s definitely got the same problems and stress as over 1.2-million people in America and abroad.
Perhaps, even more.
Jung’s not posting about his $500,000 loss to the bankrupt FTX crypto-exchange on Instagram. However, he has confirmed the loss via YouTube.
Promoted FTX to His 1.2-Million Followers
The Maryland resident even had a contact with Sam Bankman-Fried’s company, as he was hired to promote the cryptocurrency exchange to his 1.2-Million YouTube users.
“They are a platform that we [YouTube team] worked with,” said Jung in a statement on the dealings in a recent video.
The Maryland resident continued on the topic, admitting to his loss.
“ I actually had a lot of my funds with FTX. I actually had a half-a-million dollars within that exchange and — yeah, this has probably been the most stressful time for me.”
Which Cryptocurrencies Brian Jung Had on FTX
Brian Jung did not make it clear what tokens nor how he obtained the money he held on the exchange. Since he did promote the ‘fraud project,’ there’s a possibility SBF’s company paid him in the now native token of the platform, FTT. If so it’s virtually worthless at this point.
However, with Jung being such an avid financial analyst and connoisseur of cryptocurrency, it’s more likely he had a diverse portfolio.
The popular Maryland YouTube host does have a legal team reviewing the matter. At this time however, FTX is protected from any legal actions thanks to a recent ‘stay’ order issued by a Bankruptcy judge. This has blocked anyone from taking action against the company. Even the city of Miami-Date and NBA team, Miami Heat, are stuck with the ‘FTX arena’ name per the order.
The collapsed crypto exchange is a true rabbit hole of legal loopholes. It operated out of the Bahamas, not the United States. Sam Bankman-Fried’s family have major political allies in the US government and SEC. And even his ex-girlfriend has powerful ties at a prestigious university.
Exposing Sam Bankman-Fried’s Family Ties
Jung’s not taking the ‘fraud’ lightly however. He’s not using the power of his YouTube audience & reach to expose all parties involved.
The half-a-million dollars Brian’s lost may be gone, but the Gaithersburg resident is still making FTX. The exposing of parties involved is creating a storm of inquiries and back-lash.