How Alameda, FTX's Sister Firm, Brought the Crypto Exchange Down
Alameda Research was Sam Bankman-Fried’s first company. He built FTX partly to help Alameda’s trading business. Then things got out of control.
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Alameda Research was Sam Bankman-Fried’s first company. He built FTX partly to help Alameda’s trading business. Then things got out of control.
Collapse of the crypto exchange has left up to one million creditors out of pocket
United States Senators Elizabeth Warren and Richard Durbin have requested “a complete and transparent accounting of the business practices and financial activities” in the lead up to and following the collapse of Bahamas-headquartered FTX. “One thing is clear: the public is owed a complete and transparent accounting of the business practices and financial activities leading
Court filings reveal a failure of corporate controls, such as FTX executives failing to keep complete lists of bank accounts and employees.
As part of the bankruptcy process overseen by the court, the court will establish certain dates and deadlines of consequence.