According to news on October 4, Michael Lewis revealed in his new book "Going Infinite" that SBF, who is only 26 years old, has raised nearly $170 million in funds from the effective altruism community since he founded Alameda Research in 2017. However, in the early days of investing in the cryptocurrency market, SBF lost millions of dollars, and even lost more than $500,000 a day for a month. Some exchange-traded funds have disappeared due to poor money management.
In addition, SBF used a bot called Modelbot to trade nearly 500 tokens on about 30 exchanges, but the program failed to distinguish between highly liquid cryptocurrencies such as Bitcoin and Ethereum and memes with sparse trading volumes. currency, causing concerns among Alameda’s early employees. With the addition of Gary Wang and Nishad Singh, the company's situation improved. It is reported that Wang wrote a quantitative trading system and began to make money for Alameda, while Singh was responsible for integrating various parts of the company.
In addition, SBF used a bot called Modelbot to trade nearly 500 tokens on about 30 exchanges, but the program failed to distinguish between highly liquid cryptocurrencies such as Bitcoin and Ethereum and memes with sparse trading volumes. currency, causing concerns among Alameda’s early employees. With the addition of Gary Wang and Nishad Singh, the company's situation improved. It is reported that Wang wrote a quantitative trading system and began to make money for Alameda, while Singh was responsible for integrating various parts of the company.