Sam Bankman-Fried’s Alameda Research troubles predate FTX SBF | Crypto ▪︎ Bitcoin ▪︎ Trading ▪︎ News
Sam Bankman-Fried’s Alameda Research troubles predate FTX
SBF had claimed that the operations of FTX and Alameda were independent, but the recent lawsuit has revealed that both firms worked in conjecture from day one. New reports into Sam Bankman-Fried and his collapsed exchanges revealed that Alameda Research, the now-bankrupt crypto trading firm. A report published in The Wall Street Journal citing former employees revealed that Alameda incurred heavy losses from its trading algorithm. The algorithm was designed to make a large number of automated and fast trades. However, the firm was losing money by guessing the wrong way about price movements. SBF used the event to get in touch with investors to get funding for his failing trading firm.
