What is the connection between FTX and Alameda research?

The links between FTX and Alameda Research are coming under intense scrutiny. The cryptocurrency exchange used customer money to lend billions of dollars to Alameda for risky trades and investments, the Wall Street Journal reports. Citing FTX bankruptcy filings, the Wall Street Journal also reports that Bankman-Fried owned 90% of Alameda Research.

Was FTX on the radar of federal prosecutors in Manhattan?

REUTERS/Dado Ruvic/Illustration Nov 21 (Reuters) - Crypto exchange FTX was on the radar of federal prosecutors in Manhattan months before its collapse, Bloomberg News reported on Monday citing people familiar with the investigation.

What happened to FTX?

FTX’s sudden implosion with $9 billion of liabilities and only $900 million in assets on its balance sheet sent the crypto market into a tailspin last week. The platform filed bankruptcy proceedings, along with 130 entities tied to the company including FTX subsidiaries FTX.US and trading firm Alameda Research, on Friday.

Are FTX US employees trying to sell off assets?

Employees at FTX US are reportedly trying to sell off some of the company’s assets, according to Bloomberg. That includes the naming rights to a stadium in Miami, the home arena for the Miami Heat, and a clearing firm that it acquired earlier this year.