On Nov. 2, 2022, Ian Allison’s revealed the weak balance sheets of the FTX-affiliated trading firm Alameda Research, which started both companies’ undoing. It turned out Alameda, despite SBF’s repeated claims it was absolutely separate of FTX, relied heavily on tokens created by FTX and, more importantly, on its unassuming users’ money.
CoinDesk Turns 10: 2022 – How Crypto Gods Turn Into Monsters
