Alameda

Bankrupt cryptocurrency exchange FTX's affiliate Alameda Research has dropped a lawsuit against Grayscale Investments that had accused the digital asset manager of "enriching itself at shareholders' expense", a court filing showed on Monday.Alameda, which filed the lawsuit in a Delaware court in March last year, had also accused Grayscale of charging high fees and refusing to allow investors to redeem their shares from its two crypto-focused trusts, the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum…

Sam Bankman-Fried, the former founder of collapsed cryptocurrency exchange FTX, has now been charged with bribing Chinese officials to the tune of $40 million.The US Department of Justice has alleged that Bankman-Fried "authorised and directed a bribe of at least $40 million to one or more Chinese government officials".According to The Verge, the bribe by Bankman-Fried was an attempt to get Chinese officials to "unfreeze" some of the accounts associated with FTX's sister firm, Alameda, which contained over $1 billion in…

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. Before he was charged In December by federal prosecutors with…

Gretchen Morgenson / NBC News: A look at North Dimension, a little-known Alameda Research subsidiary, where the SEC says FTX told customers to wire funds to trade without disclosing the ties — Among the 130 or so companies in Sam Bankman-Fried's sprawling crypto empire, North Dimension Inc. assumed a low profile. Gretchen Morgenson / NBC News: A look at North Dimension, a little-known Alameda Research subsidiary, where the SEC says FTX told customers to wire funds to trade without disclosing the…

FTX customers filed a class action lawsuit against the failed crypto exchange and its former top executives including Sam Bankman-Fried, seeking a declaration that the company's holdings of digital assets belong to customers. The lawsuit is the latest legal effort to lay claim to the dwindling assets of FTX, which is already feuding with liquidators in the Bahamas and Antigua as well as the bankruptcy estate of Blockfi, another failed crypto company. FTX pledged to segregate customer accounts and instead allowed them to…

Ellison gave her first public account of her actions in a Dec. 19 plea hearing in Manhattan federal court. “I knew that it was wrong,” she said, according to a transcript of the hearing. Former Alameda Research CEO Caroline Ellison said she and FTX co-founder Sam Bankman-Fried knowingly misled lenders about how much the trading firm was borrowing from the cryptocurrency exchange. Ellison gave her first public account of her actions in a Dec. 19 plea hearing in Manhattan federal court. “I knew that it was wrong,” she…

In mid-2020, FTX's chief engineer made a secret change to the cryptocurrency exchange's software.He tweaked the code to exempt Alameda Research, a hedge fund owned by FTX founder Sam Bankman-Fried, from a feature on the trading platform that would have automatically sold off Alameda's assets if it was losing too much borrowed money.In a note explaining the change, the engineer, Nishad Singh, emphasised that FTX should never sell Alameda's positions. "Be extra careful not to liquidate,” Singh wrote in the comment in the…

The SEC alleges FTX’s founder Sam Bankman-Fried had conducted multiple years of fraud by lying to investors about customer funds being funneled between his crypto exchange and Alameda Research. Photo: Poetra.RH (Shutterstock)As more evidence comes to light about the collapse of Sam Bankman-Fried’s darling two-headed child—one face being the crypto exchange FTX and the other the hedge fund Alameda Research—recent allegations about SBF’s multi-billion crypto empire makes it clear his baby had been force-fed a diet of user…

One of the bigger questions surrounding the collapse of Sam Bankman-Fried’s crypto empire is what venture investments his trading firm Alameda poured billions of dollars in. One of the bigger questions surrounding the collapse of Sam Bankman-Fried's crypto empire is what venture investments his trading firm Alameda Research poured billions of dollars in.It appears his largest bet was on the Bitcoin mining company Genesis Digital Assets during the height of the crypto gold rush. Alameda continued to pour money into the…

And he said he couldn’t rule out the possibility that money deposited by FTX customers who were told their money was theirs alone was in fact lent to Alameda. In an interview with The Wall Street Journal, Mr. Bankman-Fried distanced himself from Alameda, saying he had stepped back from running the firm and had little insight into its workings even though he owned 90% of it. Some FTX customers made deposits by wiring money to Alameda-controlled bank accounts, with the intention that the money be used to fund…