How did FTX start?

Short for “Futures Exchange,” the genesis of FTX was a sort of Alameda skunkworks “crazy side project,” Ellison told Forbes. With him tending to his new exchange — and rapidly becoming known as a crypto czar — Ellison rose at the trading firm, becoming co-CEO of Alameda alongside Trabucco in the summer of 2021.

Did Bankman-fried borrow money to fund FTX?

Ellison was the head of Alameda Research — the trading firm through which Bankman-Fried moved crypto tokens in tandem with running FTX. Amidst the revelation that FTX borrowed money from customer accounts to fund bets via Alameda, Ellison has become a subject of online speculation. Ellison's virtual presence, however, is dwindling by the day.

Did Alameda research give out personal loans to FTX executives?

The filings also show that Alameda Research handed out three personal loans to FTX executives, with Bankman-Fried borrowing $1 billion. And while FTX CEO Sam Bankman-Fried owned 90% of the trading firm, it was Caroline Ellison at Alameda’s helm when both companies collapsed.

Is FTX a 'failure of corporate controls'?

Last week, FTX, once the second largest crypto exchange in the world, collapsed into a $32 billion pile of risky bets and worthless tokens that the former Enron attorney who has taken over FTX said is the biggest “failure of corporate controls” he’s seen in his career. And Alameda, the company Ellison helms, was one of its architects.