Despite Boasting Of Big Profits, FTX And Alameda Lost $3.7 Billion Before 2022

Nov 22,2022
KingData News: In a motion filed yesterday in the Delaware district court, the bankruptcy pros now managing Bankman-Fried’s companies said that the entities’ 2021 tax returns collectively showed a net operating loss carryover of $3.7 billion. That means his businesses, which primarily consist of trading firm Alameda Research, founded in 2017, and cryptocurrency exchange FTX, launched in 2019, had posted a net loss of $3.7 billion since their inception.
A financial document disclosed in the media indicates that SBF's Alameda Research has a capital debt situation, with nearly half of its holdings related to FTT and Solana. On November 6, 2022, CZ stated that due to recent revelations, Binance will sell all FTT on its books. This indicator broadcasts updates on FTX-related events.