[philman_36]

And Alameda Research, which is organized in Delaware, is in trouble too.
Case 22-11068-JTD Doc 24 Filed 11/17/22
IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE
In re: FTX TRADING LTD., et al.,1 Debtors.(page) -8-
C. The Alameda Silo
22. The parent company and primary operating company in the Alameda Silo is Alameda Research LLC, which is organized in the State of Delaware. Before the Petition Date (as defined below), the Alameda Silo operated quantitative trading funds specializing in crypto assets. Strategies included arbitrage, market making, yield farming and trading volatility. The Alameda Silo also offered over-the-counter trading services, and made and managed other debt and equity investments. In short, the Alameda Silo was a “crypto hedge fund” with a diversified business trading and speculating in digital assets and related loans and securities for the account of its owners, Messrs. Bankman-Fried (90%) and Wang (10%).Alameda Had ‘Secret Exemption’ From FTX Liquidation Protocols, New CEO Says
Alameda Research, the trading vehicle at the center of Sam Bankman-Fried’s and FTX’s downfall, had a “secret exemption” from the crypto exchange’s liquidation procedures, according to bankruptcy filings Thursday.

[dblshot]

Secret deals, sounds like insider trading with political cover to me. And political cover ain’t free. Time may tell my friend.

[philman_36]

71. One of the most pervasive failures of the FTX.com business in particular is the absence of lasting records of decision-making. Mr. Bankman-Fried often communicated by using applications that were set to auto-delete after a short period of time, and encouraged employees to do the same. Most convenient, don't you think, Watson. /Holmes