4min chapter

Hidden Forces cover image

The Downfall of FTX and Crypto’s Path Forward | Vance Spencer & Michael Anderson

Hidden Forces

CHAPTER

How Did Alameda Research and FTX Come Into Being?

Alameda was a market making firm that made billions on the Kimchi premium trade. It blew up during the Luna collapse, FTX is now functionally insolvent since the summer. You don't really see that level of psychopathic in crypto, even though we have this rep of being the Wild West too often. The whole time, what Michael and I were thinking is like, what are we missing?

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