The Alameda-FTX Crisis Started Years Before Bankruptcy: WSJ Report
Tecnología La crisis de Alameda-FTX comenzó años antes de la bancarrota: informe del WSJ 01/02/2023 Noticias de Bitcoin Ethereum The 2022 crypto winter got colder and darker in November when one of the biggest and most prominent crypto exchanges, FTX, imploded. The company, which had bailed out several crypto firms during the Terra-induced crash in May 2022, ended up filing for bankruptcy. While FTXs founder, Sam Bankman-Fried (SBF), and other executives are currently facing multiple for fraud, fresh reports have surfaced alleging that the FTX-linked crypto trading firm, Alameda Research, was a walking red flag from its early days. A Sinking Ship From the Beginning According to a recent Wall Street Journal , which cited multiple sources familiar with the matter, including former employees, Alamedas collapse had been long coming, even before FTX came into the picture. The report noted that Alamedas first big trade was an arbitrage play in Japan, where Bitcoin was sold at higher prices than in other regions. Alameda leveraged that opportunity to make profits of between $10 million and $30 million shortly before the price gap closed in early 2018. From Arbitrage to Bankruptcy As per the WSJ, despite claiming to have made massive profits from its trading activities, Alameda was incurring heavy losses from