Sam Bankman-Fried contemplated closing Alameda Research in September, according to charges filed by the Commodity Futures Trading Commission.
The disgraced former CEO reportedly drafted and shared a document titled "'We came, we saw, we researched," which questioned whether Alameda should be permanently shut down.
“I only started thinking about this today, and so haven’t vetted it much yet," wrote Bankman-Fried. "But: I think it might be time for Alameda Research to shut down. Honestly, it was probably time to do that a year ago.”
Bankman-Fried listed a number of reasons for closing the trading shop, including that Alameda doesn't justify the current cost of capital, which is "really expensive" in this environment and that Alameda was not making enough money to justify its existence.
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