Recent detailed charges against FTX founder Sam Bankman-Fried shed light on how the FTX-Alameda complex (FTX) worked in practice with a far greater degree of specificity than we’ve previously been able to see. In turn this information answers some questions and raises a few new ones.
On an operational level FTX and its’ associated businesses were run in a remarkably simple manner. Prosecutors are alleging the shockingly facile use of what barely even qualify as “front companies.” There are also intimations that evading some US bank KYC processes amounts to little more than a primary school exercise. And some of the interactions detailed in these documents raise questions about who really was ultimately in charge.
