Alameda Research Hunts For $700M After FTX's Celebrity And Politico Access Fiasco
Portfolio Pulse from Murtuza Merchant
Alameda Research, the hedge fund division of the bankrupt FTX group, is seeking to reclaim $700 million allegedly spent by its founder, Sam Bankman-Fried, to gain access to high-profile individuals. Court documents claim that Bankman-Fried used the companies under his control as a slush fund, with no commensurate benefit to Alameda Research.
June 23, 2023 | 3:02 pm
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Alameda Research is seeking to reclaim $700 million allegedly spent by FTX founder Sam Bankman-Fried, potentially impacting FTX's reputation and the value of FTTUSD.
The news of Alameda Research seeking to reclaim $700 million from FTX's founder could negatively impact FTX's reputation, leading to a potential decrease in the value of FTTUSD. Investors may lose confidence in the company and its management, causing a sell-off of FTTUSD.
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