From what I've gathered, Alameda lost the money during the Luna collapse back in the spring. Sam extended a loan from FTX (using customer funds) to Alameda (whi

From what I've gathered, Alameda lost the money during the Luna collapse back in the spring. Sam extended a loan from FTX (using customer funds) to Alameda (which he owned 90% of) to prevent Alameda from collapsing with everything else (Three Arrows Capital etc). When called out, he claimed on Twitter that he was just shuffling around some cold wallets. The balance sheet leak from last week handed observers a smoking gun showing that it was actually being loaned out to Alameda, triggering Binance to begin their exit, which kicked off the cascade of events.