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The timing of the big investments back in Oct '21 for their Series B and Jan '22 for Series C makes your guess seem likely. Seems like most of the actual fraud
by celestialcheese 4y ago
The timing of the big investments back in Oct '21 for their Series B and Jan '22 for Series C makes your guess seem likely.
Seems like most of the actual fraud started after the 3AC/TerraLuna blowup as SBF trying to trade out of the hole he was in.
- onphonenow 4y agoI’m slightly curious if Sam had a personal relationship with someone at alameda? He took a pretty straightforward way to make money (charge fees running an exchange) and then looks to have dumped money into an absolute black whole of illiquidity and stupidity at alameda which was run by Caroline ? Even if alameda was making smart seed round investments- the liquidity horizons make no sense for an exchange to be part of that! I can imagine alameda being burnt by 3ac - just wrap things up there if needed?
- mkl 4y agoThat seems to be known: "Alameda CEO Caroline Ellison, whose firm played a central role in the company’s collapse – and who, at times, has dated Bankman-Fried" - https://fortune.com/2022/11/11/sam-bankman-fried-crypto-empire-ftx-alameda-run-gang-kids-bahamas-who-all-dated-each-other/ https://fortune.com/2022/11/11/sam-bankman-fried-crypto-empi...
- cplusplusfellow 4y agoHe lived with the CEO of Alameda and is said to be in a polyamorous relationship with her. He’s also co-CEO.
- onphonenow 4y agoYowk! Well - that might explain some of the craziness!
- nullc 4y ago> Seems like most of the actual fraud started after the 3AC/TerraLuna blowup What makes you say that? I think it was fraud from day one-- starting with the claimed billions of dollars in arb gains. If they were real-- wheres that money now?