Reuters: Alameda Research has dropped lawsuit against Grayscale
According to a court document filed on Monday, FTX subsidiary Alameda Research has withdrawn its lawsuit against Grayscale Investments, which accused the firm of sacrificing shareholder interests for its own gain. It is reported that Alameda filed the lawsuit in March last year in a Delaware court, alleging that Grayscale charged exorbitant fees and refused to allow investors to redeem their shares from its two cryptocurrency-focused trust funds.
Alameda Research clearing address transferred 1,600 ETH to Wintermute 10 hours ago
Alameda Research's clearing address transferred 1600 ETH (worth 3.59 million US dollars) to Wintermute 10 hours ago, as monitored by Ai Auntie. Since October 24, 2023, Alameda has transferred assets worth 13.84 million US dollars to Wintermute, including 21 types of tokens such as ETH, LINK, LDO, AAVE, and SHIB.
Former FTX General Counsel: Lending client funds to Alameda Research was never approved
Can Sun, FTX's general counsel, told the jury during Sam Bankman-Fried's criminal fraud trial that he "never approved" of FTX lending customer funds to sister company Alameda Research. Can Sun served as FTX's general counsel from August 2021 to November 2022, during the period when the exchange collapsed. When asked if he agreed to Alameda using FTX customer funds, he said "absolutely not."
Alameda owes FTX customers $11.3 billion in June 2022
Peter Easton, an accounting professor at Notre Dame University, appeared in court to explain the severity of Alameda Research's alleged misuse of FTX client and investor funds. Based on Easton's testimony and a large number of process diagrams, between January 4, 2022 and February 11, 2022, $1.1 billion of FTX client deposits flowed to Alameda Research, with most of it being used for political donations, real estate investments, venture capital, and charitable donations.
In June 2022, Alameda's debt to FTX clients reached $11.3 billion, while Alameda and FTX's bank accounts had about $2.3 billion. This means that if every client chooses to withdraw their funds, the shortfall that Alameda and FTX cannot make up will reach $9 billion.
Former Alameda Research Engineer Reveals Safety Negligence Cost Company $190 Million
October 12th, former Alameda Research software engineer Aditya Baradwaj recently disclosed on social media that the trading company co-founded by Sam Bankman-Fried lost $100 million due to clicking on a phishing link. Baradwaj stated that this was not the first time the company had lost millions of dollars due to security negligence. He also described two other incidents in detail, resulting in a total loss of at least $190 million for the company.
SBF’s Draft Tweet Was Exposed in September Last Year, and It Had Planned to Announce the Closure of Alameda Research
October 11th, in the SBF trial, a tweet draft edited by SBF in September last year was adopted as evidence by the court. The draft shows that SBF planned to announce the closure of Alameda Research to the world in this way.
In the draft, SBF described Alameda Research as "one of my biggest successes" and referred to it as "one of the supports of the ecosystem". SBF also stated "Alameda Research is dead. Long live FTX."
Former Alameda Research CEO says SBF instigated her to commit crimes and SBF abused client funds
Former CEO of Alameda Research, Caroline Ellison, testified in court that FTX founder Sam Bankman-Fried instructed her to commit a crime and that SBF misused FTX user funds. She sent balance sheets according to SBF's instructions, which made Alameda's balance less risky for investors. She also proved that Alameda obtained funds from FTX for its own investments.
Former Alameda Research CEO Will Testify Today, Testimony May Have Potentially Damaging Revelations
The trial of the SBF fraud case is underway, and Caroline Ellison, the former lover of the CEO of Alameda Research and SBF, will testify in court today. The testimony may provide the most in-depth and potentially destructive disclosure of FTX and Alameda financial transactions. Due to Ellison's close relationship with SBF and her position at Alameda, she has even become the focus of the trial before her scheduled testimony.
Ex-Girlfriend and Business Associate of Sam Bankman-Fried to Testify in Fraud Trial, Expected to Expose Inner Workings of Defunct Crypto Exchange FTX and Sister Trading Firm Alameda Research
Caroline Ellison, the former girlfriend and business partner of Sam Bankman-Fried, is set to testify in his fraud trial this week. Her testimony is expected to reveal details about the inner workings of the defunct crypto exchange FTX and its sister trading firm Alameda Research, where she was the CEO. Prosecutors believe that Ellison and other members of Bankman-Fried's "inner caucus" are aware of the truth behind the alleged fraud. Bankman-Fried has pleaded not guilty to the charges against him, while Ellison and another FTX executive have pleaded guilty.
Former Alameda Research CEO Caroline Ellison May Testify in SBF Trial Next Tuesday
Caroline Ellison, former CEO of hedge fund Alameda Research, is likely to be the next witness to testify in the SBF trial, replacing former FTX executive Gary Wang.After the trial ended on Friday morning, the US Department of Justice said that Wang's testimony would end on Tuesday, and prosecutors expect Ellison to be the next witness. Like Wang, Ellison also admitted to multiple fraud charges in December last year.The court will not be in session on Monday due to Columbus Day, and will resume on Tuesday at 9:30am Eastern Time.
