Saturday , November 2 2024
Home / Crypto news / Alameda Secretly Exempted from FTX’s Auto-Liquidation Engine: Court Filing

Alameda Secretly Exempted from FTX’s Auto-Liquidation Engine: Court Filing

Summary:
The revelations surrounding FTX’s downfall continue with full force. Now, according to the most recent court filings, Alameda Research – SBF’s trading firm, had some privileges. The trading firm of Sam Bankman-Fried, Alameda Research, was secretly exempted from some aspects of the auto-liquidation protocol of FTX. It’s worth noting that SBF was also the acting CEO and founder of FTX. This is just a drop in the stream of information that was made public through the recent court filings. Meanwhile, the current CEO of the exchange, John J. Ray III, said: Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here. You Might Also Like:

Topics:
George Georgiev considers the following as important: ,

This could be interesting, too:

Wayne Jones writes dYdX CEO Declares 35% Workforce Reduction

Chayanika Deka writes Former FTX’s Head of Engineering Nishad Singh Dodges Prison

Mandy Williams writes Aave Sees 0M Weekly Increase in cbBTC Inflows, But There’s a Catch

Wayne Jones writes MrBeast Linked to Over 50 Crypto Wallets Allegedly Involved in Insider Trading: Report

The revelations surrounding FTX’s downfall continue with full force. Now, according to the most recent court filings, Alameda Research – SBF’s trading firm, had some privileges.

  • The trading firm of Sam Bankman-Fried, Alameda Research, was secretly exempted from some aspects of the auto-liquidation protocol of FTX.
  • It’s worth noting that SBF was also the acting CEO and founder of FTX.
  • This is just a drop in the stream of information that was made public through the recent court filings.
  • Meanwhile, the current CEO of the exchange, John J. Ray III, said:

Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here.

You Might Also Like:

Leave a Reply

Your email address will not be published. Required fields are marked *