How did so many Jane Street traders wind up at FTX?
Alameda Research CEO Sam Bankman-Fried routed more than $400 million worth of FTX customer deposits to a number of ex-Jane Street traders.
Alameda Research CEO Sam Bankman-Fried routed more than $400 million worth of FTX customer deposits to a number of ex-Jane Street traders.
Financials published by mistake showed that BlockFi has over $1.2B tied to FTX and Alameda — way more than the $1.02B previously claimed.
The move comes after the collapse of Sam Bankman-Fried’s FTX and trading firm Alameda left clients billions of dollars out of pocket.
Silvergate lost nearly $1 billion in Q4 2022 alone as customers realized that FTX was once its biggest client.
Despite Alameda’s lack of risk mitigation procedures, it appears those in charge of liquidations may be as gung-ho as the previous leaders.