By Dana Sanchez
Crypto market participants suggest that Hong Kong-based trading brokerage Alameda Research and its trading partner, crypto exchange FTX, are using insider information to trade digital assets — something that is punishable by fines and incarceration in regulated financial markets.
Alameda — considered one of the top firms of its kind in the world — and FTX, a crypto derivatives exchange, are both owned by CEO and founder Sam Bankman-Fried, a 29-year-old graduate of the Massachusetts Institute of Technology. Born in Stanford, California, Bankman-Fried is one of Hong Kong’s richest people and the world’s richest under 30 years old.
In November 2019, Bitcoin Manipulation Abatement LLC sued FTX, Alameda and some of their associates in a San Francisco court, accusing them of market manipulation. Bankman-Fried was among those accused of having “conspired…and participated in a long-running enterprise…engaging in a continuing pattern of racketeering activity involving, among other unlawful acts, operating an unlicensed money Click here to read entire article