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Showing posts with the label Alameda Research

Overshadowed by Trump, Sam Bankman-Fried nonetheless gets his trial

Early this month, as Donald Trump made a point of showing up, unnecessarily, for the first three days of his civil trial in Manhattan, and with the press treating it with all the fanfare they have treated his four criminal indictments, Sam Bankman-Fried also went on trial.  The SBF trial is criminal and it is very likely to put SBF in prison, perhaps for a very long time. Furthermore, since SBF was in his heyday, not TOO long ago, a billionaire whiz-kid at the very top of the cryptocurrency food chain, this trial in other circumstances would itself be a top-tier spectacle. At least as spectacular as would be the civil trial of a billionaire old-man in the middle of the reality-television food chain. SBF ran both a crypto exchange (with some bank-like characteristics)  and a hedge fund, known as FTX and as Alameda Research, respectively. I admit having written confused things about this in the recent past. In this very blog, I once referred to Alameda Research as FTX's "data-cr...

The latest on Sam Bankman-Fried

  This is turning into a fascinating year for litigation.  Of course there is the former President and his four indictments, as well as his continued civil troubles.  The civil troubles feature an old lawsuit about a videophone he was hawking back in the day -- a marketing scheme that was mostly about selling the right to sell the phones, or selling the right to sell the right, etc, in classic pyramid fashion.  That aside, the year  2023 has seen the trial and conviction of Alex Murdaugh for the murder of his wife and son.  The Telles/German case is still hanging fire.   Dominion's lawsuit against Fox News would really have enlivened the year. As it happened, the willingness of the Fox empire to pay three quarters of a billion dollars to avoid a trial was itself remarkable and almost as much fun. Another great upcoming trial expected this year will be that of Sam Bankman-Fried, one time impresario of the great cryptocurrency exchange, FTX. The cas...