SBF Acknowledges That Alameda Received Special Treatment Because of FTX

The Bit Journal Editor
By The Bit Journal Editor 2 comments
3 Min Read

SBF acknowledges that Alameda received special treatment because of FTX. There is a statement from SBF, this time it admits that Alameda got an unfair advantage.

SBF’s trading company, Alameda Research, was given a higher lending rate compared to other FTX clients. He didn’t explain how much profit compared to other customers, but raised the possibility that they will continue even after FTX is done. Alameda had access to a large amount of FTX loans when Sam Bankman-Fried started the crypto exchange. He said this in an interview with the Financial Times published on Saturday.

The main source of the loan amount came from Alameda’s role as an FTX liquid supplier in its early days before other financial groups expressed interest, he said.

“If you go back to 2019 when FTX first started, at that time Alameda had a 45% volume or something on the platform,” SBF said in an interview. “It’s basically a situation where if the Alameda account is exhausted for a new level, it will cause a serious problem for the platform because we don’t have enough donors. I think there are a lot of limitations because of that.

Advertisement Banner

The esteemed founder said Alameda owed FTX about $10 billion at the time of its collapse. He added that Alameda will account for only 2% of the trading volume in FTX, by 2022. Since FTX filed for bankruptcy on November 11 of this year in the United States, this is the latest statement made in the media by the founder and former CEO, Sam Bankman-Fried.

On Wednesday, SBF told the New York Times that it “made a big mistake.” In the same interview, he took responsibility for the investigation of Alameda and the FTX connection, saying that he ignored what was happening. In an interview with ABC News on Thursday, Bankman-Fried admitted that she doesn’t spend time learning about risk management.

The collapse of FTX has sent shockwaves through the crypto market. SBF is being investigated by the Securities and Exchange Commission for fraud.

Telegram address.


The price predictions and financial analysis presented on this website are for informational purposes only and do not constitute financial, investment, or trading advice. While we strive to provide accurate and up-to-date information, the volatile nature of cryptocurrency markets means that prices can fluctuate significantly and unpredictably.

You should conduct your own research and consult with a qualified financial advisor before making any investment decisions. The Bit Journal does not guarantee the accuracy, completeness, or reliability of any information provided in the price predictions, and we will not be held liable for any losses incurred as a result of relying on this information.

Investing in cryptocurrencies carries risks, including the risk of significant losses. Always invest responsibly and within your means.

Share This Article
2 Reviews