FTX and Alameda Research are in crisis and over a hundred funds are going down with them. Sam Bankman-Fried (CEO) made a list of bad decisions which has lead to both firms failing. Poor accounting, over leveraged, minimal oversight, and minimal risk management resulted in this crisis. People's over reliance on the shiny dreams of altruism resulted in a lack of due diligence from investors as well.
Today I break down what is going on with FTX and Alameda Research based on articles I have been reading. Below are my sources for you to review and form your own opinion.
Sources:
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