• FTX owned an $11.5 million stake in a tiny rural bank in Washington state with just 3 employees, bankruptcy hearing shows

    6 days ago - By Business Insider

    The Palouse hills in Whitman County, Washington, where FTX's investment is located. Education Images/Universal Images Group via Getty Images; Tom Williams/CQ-Roll Call, Inc via Getty Images
    Farmington State Bank had 3 staff and was the 26th-smallest bank in America out of a total 4,800.
    Then FTX bought an $11.5 million stake in the bank, it has emerged during FTX's bankruptcy case.
    That stake was more than twice the bank's previous net worth.
    FTX has come under more scrutiny after it emerged that the collapsed crypto giant owned an $11.5 million stake in one of America's smallest banks...
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