๐จBREAKING๐จ: Alameda Research, a #DeFi trading firm, was on the brink of collapse๐ฑ, but employees only found out from ex-CEO Caroline Ellison's confession๐คฏ! Aditya Baradwaj, a former engineer, said it seemed like business as usual until the end๐คทโโ๏ธ.
Alameda, founded by Sam Bankman-Fried, Ellison, and Sam Trabucco, had blurry divisions with sister company FTX๐. CoinDesk reported Alameda's balance sheet was mostly FTX's FTT exchange token๐ฐ. This led to the collapse of both companies & criminal charges against Bankman-Fried๐ฎโโ๏ธ.
Baradwaj revealed Alameda's poor security practices๐ & lack of checks and balances๐ซ, which caused a "fat finger" trade in 2021, temporarily dipping #Bitcoin's price by 87%๐.
What do you think about this shocking revelation๐ค? Share your thoughts in the comments๐! #Web3 #CryptoNews
Alameda, founded by Sam Bankman-Fried, Ellison, and Sam Trabucco, had blurry divisions with sister company FTX๐. CoinDesk reported Alameda's balance sheet was mostly FTX's FTT exchange token๐ฐ. This led to the collapse of both companies & criminal charges against Bankman-Fried๐ฎโโ๏ธ.
Baradwaj revealed Alameda's poor security practices๐ & lack of checks and balances๐ซ, which caused a "fat finger" trade in 2021, temporarily dipping #Bitcoin's price by 87%๐.
What do you think about this shocking revelation๐ค? Share your thoughts in the comments๐! #Web3 #CryptoNews