‘Black box’: Sam Bankman-Fried’s trading firm posed big risks to FTX
The collapse of Sam Bankman-Fried’s $32bn cryptocurrency exchange captivated and stunned crypto markets this week, but at the centre of the crisis was a far lesser known, but risky entity: Alameda Research. Bankman-Fried’s digital asset trading shop opened in 2017, but within two years of its founding was dealing about $600mn-$1bn a day. Much of … Read more