What happened between Alameda and FTX?

The New York Times The relationship between Alameda and FTX — and how the two propped each other up — is coming under scrutiny as prosecutors and regulators investigate the exchange’s collapse. Alameda Research, a small trading firm that Sam Bankman-Fried founded in 2017 at the age of 25, was the start of his crypto empire — and its undoing.

What happened to Alameda research?

Alameda Research was a cryptocurrency trading firm, co-founded in September 2017 by Sam Bankman-Fried and Tara Mac Aulay. In November 2022, FTX, Alameda's sister cryptocurrency exchange, experienced a solvency crisis, and both FTX and Alameda filed for Chapter 11 bankruptcy.

Does Sam Bankman-fried own Alameda research?

As of August 2021, Bankman-Fried owned approximately 90 percent of Alameda Research. Sam Bankman-Fried started his own crypto exchange in April 2019 under the name FTX. Alameda Research played a significant role in the growth of FTX, as it acted as FTX's main market maker.

Is Alameda research behind the cryptocurrency exchange's collapse?

Questions were building about the exchange’s relationship with Alameda Research, the trading firm he started that’s behind the collapse of the cryptocurrency exchange. At the time, however, Bankman-Fried appeared eager to dispel concerns and agreed to an extensive interview.