One of the trading firms related to cryptocurrency, Alameda Research, was founded by Sam-Bankman-Fried. He is a billionaire in the crypto industry. He established his firm in the year 2017. Then, he spent around three years working in trading. This was at Jane Street Capital, which is a big name in proprietary trading. They specialize in equities as well as bonds.
SBF and Almaeda Research
In the year 2019, FTX, which is a derivatives and exchange for cryptocurrency, was established by SBF. The global versions of FTX’s exchange business is different from the FTX US one. Both are controlled by SBF.
SBF is an ambitious man. He wants to purchase giants such as Goldman Sachs as well. In July last year, SBF also said that the funds raised by investors were most likely be used in mergers and acquisitions. On June 18th of this year, Voyager Digital which is a crypto brokerage, revealed that their company was going to be given around $200 million from Almaeda Research. They are also being provided with around 15,000 BTC worth of revolving credit as well. This is worth around $319.5 million.
Through an interview, SBF revealed that his companies had already done this various times in the past. He said that Almaeda Research, in his opinion, was given the responsibility of stepping in. This was even if it meant losses for the company. This was in order to curb the contagion. Almaeda Research has already given a load of around $120 million to Liduid, which is a crypto exchange based in Japan.