Here's how a Binance event in 2019 reportedly enabled SBF to raise funds for his failing business and, shortly after, start a new one.
New reports into Sam Bankman-Fried and his collapsed exchanges revealed that Alameda Research, the now-bankrupt crypto trading firm, almost collapsed in 2018, even before FTX was in the picture.published in The Wall Street Journal citing former employees revealed that Alameda incurred heavy losses from its trading algorithm. The algorithm was designed to make a large number of automated and fast trades. However, the firm was losing money by guessing the wrong way about price movements.
As per the report, In Jan. 2019, Alameda sponsored the inaugural Binance Blockchain Week conference, and SBF used the event to get in touch with investors to get funding for his failing trading firm.
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