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He let his private equity / investment company (Alameda) borrow unlimited customer funds via a software backdoor for various investments.
by Flammy 3y ago
He let his private equity / investment company (Alameda) borrow unlimited customer funds via a software backdoor for various investments.
- ffsm8 3y ago(and lost most of it by "investing" in shitcoins, basically)
- __loam 3y agoDon't forget the part where they based most of their valuation on a currency they printed.
- deleted 3y ago[deleted]
- toomuchtodo 3y agohttps://youtu.be/KZYqL79GDXU https://youtu.be/KZYqL79GDXU Magic black box yield farming at 21:29 timestamp.
- Breza 2y agoAdditionally, they outright lied about things like their reserves. The website had what claimed to be a real time ticker showing the reserve level that was actually a weighted random number. SBF claimed that he fell victim to poor risk management, but the more investigators dug in, the more evidence they found that there was organized corruption.