Alameda Research Diverts Billions in Funds to Prop Up Struggling Sister Firm, Reveals Controversial CEO’s Blog Posts

1: alameda research, a trading firm, secretly diverted $4 billion in company funds to prop up its struggling sister trading firm. the firm had a portfolio of over 500 illiquid investments across 10 holding companies, and invested in a number of companies, including 80 acres, equator therapeutics, ivy natal, fern labs inc., odaily, blockbeats, trustless media, and others. ftx ceo sam bankman-fried had no involvement in alameda’s investment decisions, which were exclusively overseen by the firm’s ceo, caroline ellison.

2: the investments were made at various times, with alameda investing in 80 acres as of early last month, and suffering huge losses after may’s crypto crash. ellison and bankman-fried lived together in a bahamas penthouse until both companies collapsed last month.

3: alameda research made the investments in order to prop up its struggling sister trading firm. ellison’s blog described crypto as “mostly scams and memes” and explored discredited fields of race science, as well as promoting polyamory modeled on the structure of “imperial chinese harem[s].” it is unclear why alameda research chose to invest in the companies they did, but it appears that the decision was made solely by ellison.

https://decrypt.co/116593/knockoff-lotions-weight-loss-drugs-chinese-news-sites-inside-alamedas-investment-portfolio

By Evey Lovelace

You May Also Like