Article9 months ago

FTX Trial: Groundbreaking Revelations about FTX's Collapse and SBF's Ambitions

FTX Trial: Groundbreaking Revelations about FTX's Collapse and SBF's Ambitions
Summary
  • Alameda Research incurred an $800 million trading loss due to a margin system glitch, leading to SBF's push for Alameda to absorb the loss.
  • Ellison's testimony highlighted the panic surrounding FTX's potential collapse, with messages showing escalating panic.
  • SBF's involvement with the Chinese government and frozen funds of $1 billion as part of a money laundering investigation were revealed.

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