Alameda Research Says It ‘Doesn’t Trade Cryptocurrencies,’ According To Report, Speculators Think SBF’s Political Ties Have FTX Flew Under The Radar – Bitcoin News
On November 11, 2022, FTX Trading Ltd. filed a voluntary petition for Chapter 11 protection in Delaware. The news follows days of speculation and evidence that the digital currency exchange is likely insolvent. The company’s bankruptcy filing and information about Sam Bankman-Fried’s (SBF) quant cryptocurrency trading firm Alameda Research further illuminates the situation. Additionally, a cryptocurrency proponent wonders why US regulators are keeping his FTX in the dark.
Bankruptcy filing highlights long list of FTX and Alameda ‘portfolio companies’
The public and even FTX employees were not informed that FTX Trading Ltd. had filed for Chapter 11 bankruptcy protection in the U.S. last Friday. has more than 100,000 creditors and has estimated liabilities worth between $10 billion and $50 billion. The bankruptcy filing is signed by his new FTX CEO, John J. Ray III, who was involved in Enron’s bankruptcy proceedings.
The bankruptcy filing includes FTX Trading Ltd. and debtors including Alameda Research, Atlantis Technology, Bitpesa, Blockfolio, Cedar Bay, DAAG Trading, Global Compass Dynamics, Hawaii Digital Assets, GG Trading Terminal, Ledger Holdings Inc. and Liquid Financial. includes 134 affiliates of , Western Concord Enterprises, FTX US Derivatives, FTX US Services, and FTX US Trading. The application has been approved and signed by former FTX CEO Samuel Benjamin Bankman-Fried, aka SBF.
Alameda Calls “Financial Management Feedback Loop” Reportedly No Crypto Trading
The application was registered on 11 November, but the SBF signature was dated 10 November 2022. Of the 134 affiliates, 11 share the Alameda name with Sam Bankman-Fried’s (SBF) quantitative cryptocurrency trading firm called Alameda Research. Alameda claims to be a quantitative crypto trading company, Said That Alameda did nothing of the sort.
“Sam Bankman-Fried’s Alameda Research did not trade cryptocurrencies, to our knowledge,” investigative journalist and Twitter account @lordnefty I have written. “What did they do then? They ‘invested’ him $8 billion in 448 venture-stage start-ups, most of which had ‘one to ten’ employees.” Hold on, no documentation. The more you dig into each company, the crazier it gets. ” The journalist added:
Ultimately, a financial management feedback loop that ends with all funds going to companies controlled by Sam Bankman-Fried, companies with no owners or financial data, splash page websites, etc.
Some argue that Alameda never actually traded digital assets, but Bankman-Fried and Alameda were also said to have traded up to $25 million a day using an arbitrage trading scheme. . The web portal crunchbase.com showcases many portfolio companies associated with Alameda. Additionally, on November 2, 2022, Coindesk reporter Ian Allison published an article on his Alameda balance sheet, stating that the large amount of his ftx (FTT) tokens compared to other assets held by the company pointed out that it possesses
Alameda Chief Executive Caroline Ellison declined to comment, according to reports. Alameda Research’s day-to-day operations were advised by Ellison, Nate Parke, Charlie Tsang, Christian Drappi, Aditya Baradwaj, Oliver Hamilton and Sam Trabucco. Ellison’s father is her MIT faculty member and an expert in economics, game theory, and technology adoption.
Following Coindesk’s Alameda balance sheet report, Binance CEO Changpeng Zhao (CZ) said his exchange will sell FTT tokens.
CZ’s statement came after Dirty Bubble Media (DBM) reported on October 31, 2022 that Alameda happened to be one of Celsius’ largest unsecured creditors, with the cryptocurrency lender offering Alameda $12.8 million. I published a post stating that I am indebted. DBM’s report further highlights that Celsius had another large unsecured creditor called “Pharos Fund SP”.
“This fund, as far as we know, was not publicly known prior to Celsius’s filing. ,” explains the DBM report. According to a Bloomberg report, Lantern CEO Tara Mac Auley claims herself to be the co-founder of Alameda Research, which Mac Auley calls a “center for effective altruism.” She was also the CEO of a charity called Sam Bankman-Fried is a member of the charity’s affiliated organization, Giving What You Can. “
LBRY Team Questions SEC Enforcement Motivation, Crypto Community Members Think SBF Was “Patsy” Due To Extensive Political Connections
Issues related to FTX and Alameda have led many cryptocurrency advocates to question why regulators such as the U.S. Securities and Exchange Commission (SEC) failed to figure out FTX before it collapsed. I was.Congressman Tom Emmer murmured Allegations about SEC chairman helping FTX obtain regulatory exclusivity. His Twitter account for LBRY, which is run by a blockchain project that lost a lawsuit with the SEC, said: process I saw FTX.
“It seems more and more like that, while the SEC has a team of staff working to crush us who are little actors and actually one of the honest ones, FTX has billions. steal dollars, [SEC chairman Gary Gensler] I took the time to meet them personally,” LBRY said. I have writtenBankman-Fried’s Background on Effective Altruism, Democratic Super PAC and $1 Million Donation to U.S. President Joe Biden, Report on Meeting with SEC Chairman Gary Gensler, and More connection Have made people believe The SBF was a political “chatter” meant to ram the industry into regulating cryptocurrencies.
What are your thoughts on FTX’s Chapter 11 bankruptcy filing and the company’s subsidiary, Alameda Research? What are your thoughts on all the speculation related to political ties between FTX and Alameda? Let us know about this in the comments section below. Let us know what you think.
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Alameda Research Says It ‘Doesn’t Trade Cryptocurrencies,’ According To Report, Speculators Think SBF’s Political Ties Have FTX Flew Under The Radar – Bitcoin News
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