📉📚 In the new book "Going Infinite" by "Big Short" author Michael Lewis, Tara Mac, who founded the hedge fund called Alameda in 2017 with FTX founder Sam Bankman-Fried (SBF) and resigned with other management team members in 2018 Aulay explained that one of the reasons for his resignation was "concerns about risk management and business ethics" and the disappearance of millions of dollars from FTX's hedge fund division. 🚩
Aulay stated that working with SBF was difficult: "SBF expects everyone to work 18 hours a day and abandon the idea of a normal life, is late for meetings, does not bathe for weeks and is surrounded by old food and garbage. It is normal to sleep in front of the table when you wake up. The team believes that SBF is greedy "He spent a lot of his time trying to control his desire to trade. The entire management team wanted to leave." 😓
SBF's lack of interest in risk management led to Aulay's resignation. By early 2018, Alameda's finances were "in disarray," Lewis said. The trading system lost approximately $14 million, but staff could not determine the exact amount. The Alameda employee also noticed that $4 million worth of XRP tokens were missing. Mac Aulay and his entire management team and part-time employees left Alameda in 2018. Lewis claimed they received compensation of between $1 and $2 million. Mac Aulay later founded a trading company called Lantern Ventures, and several former Alameda employees joined the company. 💼
Aulay stated that working with SBF was difficult: "SBF expects everyone to work 18 hours a day and abandon the idea of a normal life, is late for meetings, does not bathe for weeks and is surrounded by old food and garbage. It is normal to sleep in front of the table when you wake up. The team believes that SBF is greedy "He spent a lot of his time trying to control his desire to trade. The entire management team wanted to leave." 😓
SBF's lack of interest in risk management led to Aulay's resignation. By early 2018, Alameda's finances were "in disarray," Lewis said. The trading system lost approximately $14 million, but staff could not determine the exact amount. The Alameda employee also noticed that $4 million worth of XRP tokens were missing. Mac Aulay and his entire management team and part-time employees left Alameda in 2018. Lewis claimed they received compensation of between $1 and $2 million. Mac Aulay later founded a trading company called Lantern Ventures, and several former Alameda employees joined the company. 💼