It is a pretty mediocre explanation of what went wrong with FTX/Alameda but it does have some interesting input from SBF himself about some shady wire transfers that he performed and an unnamed bank let him get away with what sounds like months.
That part gobsmacked me that there was a bank that would allow numerous account holders to perform wire transfers of the same size, daily to another country in another currency all to the same account. That shit should have been stopped and no matter the explanation not allowed to resume.
ExcitedForNothing t1_iy4a8jm wrote
Reply to comment by [deleted] in How a CoinDesk scoop led to the fall of Sam Bankman-Fried and implosion of FTX by redhatGizmo
It is a pretty mediocre explanation of what went wrong with FTX/Alameda but it does have some interesting input from SBF himself about some shady wire transfers that he performed and an unnamed bank let him get away with what sounds like months.
That part gobsmacked me that there was a bank that would allow numerous account holders to perform wire transfers of the same size, daily to another country in another currency all to the same account. That shit should have been stopped and no matter the explanation not allowed to resume.