Liquidity provider, market making and trading exchange transactions with a related party represented about 6% and 11 % of total exchange transaction volume for the years ended Dec. 31, 2021 and 2020, respectively. Because the related parties were primarily market makers, which therefore generated negative commissions, net revenues (negative) for the years end December 31, 2021 and 2020 were -$22 million and -$13.4 million, respectively, which represented about 2.2% and 14.9% of total exchange transaction revenue on an absolute basis.

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• Source: https://www.coindesk.com/layer2/2022/11/18/a-complete-failure-of-corporate-controls-what-investors-and-accountants-missed-in-ftxs-audits/?utm_medium=referral&utm_source=rss&utm_campaign=headlines