Millions of dollars from the first tranche of funds raised by Sam Bankman-Fried were nearly lost after the trading firm Alameda Research launched in 2017, according to Michael Lewis, author of the Bankman-Fried biography "Going Infinite."
- Bankman-Fried has raised approximately $170 million from investors in the Effective Altruism community.
- Initially, most bets turned out to be losers, and Alameda Research lost millions of dollars in the first months
- The situation changed after Gary Wang and Nishad Singh joined the company, who made their own adjustments to the trading system and company management.