Report Says Alameda Research ‘Didn’t Trade Crypto,’ Speculators Think SBF’s Political Connections Let FTX Fly Under the Radar

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On November 11, 2022, FTX Trading Limited filed a voluntary petition for Chapter 11 bankruptcy protection in Delaware. The news came after days of speculation and evidence that the digital currency exchange was likely to be bankrupt. Information from the company’s bankruptcy filing and Sam Bankman-Frieds’ (SBF) quantitative cryptocurrency trading firm Alameda Research shed some more light on the situation. Furthermore, crypto proponents have questioned why US regulators allow FTX to fly under the radar.

Bankruptcy Filing Highlights FTX and Alameda’s Long List of ‘Portfolio Companies’

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Last Friday, the general public and even FTX employees were kept in the dark after they were informed that FTX Trading Limited had filed for Chapter 11 bankruptcy in the United States. filing Point out that it has more than 100,000 creditors and the firm’s estimated liabilities range from $10 billion to $50 billion. On bankruptcy filing, FTX’s new CEO John J. Ray III, who worked on Enron’s bankruptcy proceedings.

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Report Says Alameda Research 'didn't Trade Crypto', Speculators Think SBF's Political Connections Let FTX Fly Under the Radar

The bankruptcy filing includes FTX Trading Limited and 134 of the debtor’s affiliates including Alameda Research, Atlantis Technology, Bitpesa, Blockfolio, Cedar Bay, DAAG Trading, Global Compass Dynamics, Hawaii Digital Assets, GG Trading Terminals, Ledger Holdings Inc., Liquid Financial, and others. , Western Concord Enterprises, FTX US Derivatives, FTX US Services and FTX US Trading. The filing is authorized and signed by former FTX CEO Samuel Benjamin Bankman-Fried, otherwise known as SBF.

Alameda Calls ‘Financial Control Feedback Loop’ Crypto Trading Reportedly Non-existent

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While the filing was filed on November 11, the SBF’s signature on the filing was done on November 10, 2022. Of the 134 associates, 11 shared the Alameda name with the quantitative cryptocurrency trading firm of Sam Bankman-Frieds (SBF), called Alameda Research. While Almeida claims to be a quantitative crypto trading company, it has been Told That Almeida did nothing of the sort.

Investigative journalist and Twitter account “Sam Bankman-Fried’s Alameda Research does not trade crypto as far as we can tell.” @lordoili wrote. “Then what did they do? They ‘invested’ $8B in 448 venture-stage startups, most of which have ‘1-10’ employees and zero documentation. It only gets more crazy when you look at every single company.” Let’s dig in.” The journalist continued:

A financial control feedback loop that eventually ends with all the money going to Sam Bankman-Fried controlled companies, companies with no owners or financial data, splash-page websites, etc.

While some claim that Almeida did not actually trade digital assets, it has also been said that Bankman-Fried and Almeida Leveraged Arbitrage Scheme Trade up to $25 million in one day. Web portal sheds light on a large number of portfolio companies Connected to Alameda. Also, on November 2, 2022, Coindesk reporter Ian Ellison published a The Story on Alameda’s Balance SheetWhich noted that the company holds a massive amount of ftx (FTT) tokens compared to other assets held by the firm.

Alameda CEO Carolyn Ellison declined to comment, the report said. Alameda ResearchThe day-to-day affairs of the U.S. were handled by Alison, Nate Parke, Charlie Tsang, Christian Druppy, Aditya Bardwaj, Oliver Hamilton and Sam Trabuco as consultants. Ellison’s father is an MIT faculty member and expert in economics, game theory and technology adoption.

Following CoinDesk’s Alameda balance sheet report, Binance CEO Changpeng Zhao (CZ) said that his exchange will dump its FTT token.

Report Says Alameda Research 'didn't Trade Crypto', Speculators Think SBF's Political Connections Let FTX Fly Under the Radar

Posted by Dirty Bubble Media (DBM) on October 31, 2022, prior to CZ’s statements Post This shows that Alameda is one of Celsius’ largest unsecured creditors and that the crypto lender owes Alameda $12.8 million. The DBM report further pointed out that Celsius had another large unsecured creditor named “Ferros Fund sp”.

“This fund, as far as we have found out, was not publicly known prior to the Celsius filing. It is managed by a firm called Lantern Ventures, which flew largely under the radar during its existence. is,” the DBM report states. “According to a Bloomberg report, Lantern CEO, Tara McAulley has claimed that she was the co-founder of Alameda Research. Mac Aulley was also the CEO of a charity called the ‘Center for Effective Altruism’. Sam Bankman-Fried that Is a member of the charity’s affiliated organization, ‘Giving What You Can’.

Report Says Alameda Research 'didn't Trade Crypto', Speculators Think SBF's Political Connections Let FTX Fly Under the Radar

LBRY Team Questions SEC’s Enforcement Purpose, Crypto Community Members Thinking SBF Was a ‘Pati’ Due to Wider Political Connections

The issues surrounding FTX and Alameda have led many cryptocurrency proponents to ask why regulators such as the US Securities and Exchange Commission (SEC) did not catch FTX before its collapse. Congressman Tom Emer tweeted Regarding allegations by the SEC chairman of helping FTX achieve a regulatory monopoly. The LBRY Twitter account operated by the blockchain project, which lost a court case with the SEC, discussed the regulator’s strict enforcement against LBRY. treatment FTX had noticed.

“Increasingly it looked like the SEC had a team of employees working to crush us, a small actor and one of the real honest people, FTX was stealing billions and [SEC chairman Gary Gensler] Was taking the time to meet him in person,” LBRY wrote, Bankman-Fried’s influential philanthropic background, his million-dollar donation to the Democratic Super PAC and US President Joe Biden, his alleged meeting with SEC Chairman Gary Gensler, and others relationship passed make people believe SBF was a political “party” To crack down on cryptocurrency regulations in the industry.

What do you think about FTX’s Chapter 11 bankruptcy filing and Alameda Research, a subsidiary of the company? What do you think of all the speculation surrounding FTX and Alameda’s political ties? Let us know what you think about this topic in the comment section below.

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