https://www.wsj.com/articles/alameda-sam-bankman-fried-ftx-crypto-crash-11672434101
Sam Bankman-Fried built the cryptocurrency exchange FTX on the reputation of his trading firm, Alameda Research LLC.
Alameda was applying Wall Street-style wizardry to the crypto world—and outsiders thought it was winning big. But little was known beyond the firm about its trades, which included a lucrative early bet involving bitcoin in Japan. Alameda had no outside investors and didn’t disclose its performance.
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