Alameda lost more than two-thirds of its assets trading XRP in 2018
Before FTX collapsed, Alameda Research was considered one of the top quantitative trading firms and market makers in the industry. However, this perception may be largely superficial, with a recent report detailing that Alameda was experiencing financial troubles as early as 2018. People familiar with the matter said that in the spring of 2018, Alameda was hit hard by betting on XRP, losing more than two-thirds of Alameda's assets. As a result, SBF began soliciting loans again, promising a 20% return, people familiar with the matter explained.
Before FTX collapsed, Alameda Research was considered one of the top quantitative trading firms and market makers in the industry. However, this perception may be largely superficial, with a recent report detailing that Alameda was experiencing financial troubles as early as 2018. People familiar with the matter said that in the spring of 2018, Alameda was hit hard by betting on XRP, losing more than two-thirds of Alameda's assets. As a result, SBF began soliciting loans again, promising a 20% return, people familiar with the matter explained.