📘 New Book Reveals Alameda Research's Early Struggles 📉

The book "Going Infinite: The Rise and Fall of a New Tycoon" exposes FTX and Alameda Research's inception. Initially, Alameda lost $500K daily in crypto trading. Launched in 2017, the firm secured $170M from Effective Altruism. High-frequency trading didn't work, leading to $500K daily losses. Management issues and a non-testimony agreement during potential bankruptcy are highlighted.