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The Chopping Block: Was FTX a Scam From the Very Beginning? - Ep. 433
Unchained
Alameda's Mark-to-Market Approach to Accounting
The leading theories on why Alameda lost so much ranged from big bets gone wrong to having god-awful accounting records. It's unclear whether they were realized, or whether they represent a snapshot of his businesses and their asset values at that point in time. If Bankman Freed was using a mark-to-market approach to accounting, then it would still be stunning.
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