![](https://i0.wp.com/shacklemedia.com/wp-content/uploads/2022/12/troubles-at-sam-bankman-frieds-alameda-began-well-before-crypto-crash.jpg?w=640&ssl=1)
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.
Source: finance.yahoo.com
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