Alameda Team Was Unaware of Troubles Until Former CEO Caroline Ellison Confessed: CoinDesk
The collapse of cryptocurrency trading firm Alameda Research came as a surprise to insiders, who were unaware of the impending implosion until former CEO Caroline Ellison confessed. The company's internal security practices and risk checks were found to be poor, leading to a "fat finger" trade in 2021 that caused a significant drop in the price of bitcoin. The revelations about the close ties between Alameda and sister company FTX ultimately led to criminal charges against founder Sam Bankman-Fried.
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Alameda Team Was Unaware of Troubles Until Former CEO Caroline Ellison Confessed: CoinDesk
The collapse of cryptocurrency trading firm Alameda Research came as a surprise to insiders, who were unaware of the impending implosion until former CEO Caroline Ellison confessed. The company's internal security practices and risk checks were found to be poor, leading to a "fat finger" trade in 2021 that caused a significant drop in the price of bitcoin. The revelations about the close ties between Alameda and sister company FTX ultimately led to criminal charges against founder Sam Bankman-Fried.