Alameda Research, the quantitative trading firm, co-founded in September 2017 by Sam Bankman-Fried, reportedly had a “secret exemption” from the crypto exchanges liquidation procedures according to bankruptcy filings.
One of the largest crypto investment firms, Multicoin Capital, told investors in a letter on Thursday that FTX’s collapse and the resulting market decline has caused the fund to be down by 55% this month. Multicoin added that it expects the market to get worse before a rebound begins.
According to The Block, a Binance spokesperson has told them that authorities are asking them questions over the collapse of FTX.
Top stories in the Crypto Roundup today:
- Alameda Had ‘Secret Exemption’ from FTX Liquidation Procedures
- Multicoin Capital Expects FTX Contagion to Wipe Out Many Firms
- Binance Says it Cannot Provide FTX Details Because of Talks With Regulator