The 2022 crypto winter got colder and darker in November when one of the biggest and most prominent crypto exchanges, FTX, imploded. The company, which had bailed out several crypto firms during the Terra-induced crash in May 2022, ended up filing for bankruptcy.
While FTX’s founder, Sam Bankman-Fried (SBF), and other executives are currently facing multiple lawsuits for fraud, fresh reports have surfaced alleging that the FTX-linked crypto trading firm, Alameda Research, was a walking red flag from its early days.
A Sinking Ship From the Beginning
According to a recent Wall Street Journal report, which cited multiple sources familiar with the matter, including former employees, Alameda’s collapse had been long coming, even before FTX came into the picture.
The report noted that Alameda’s first big trade was an arbitrage play in Japan, where Bitcoin was sold at higher prices than in other regions. Alameda leveraged that opportunity to make profits of between $10 million and $30 m
We współpracy z: https://cryptopotato.com/the-alameda-ftx-crisis-started-years-before-bankruptcy-wsj-report/
