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Bankman-Fried Shuts Down Alameda Research as FTX Hangs in Balance

  • Alameda Research was at the heart of Bankman-Fried empire
  • Troubled exchange FTX meanwhile seeks last-ditch financing
Bloomberg business news
FTX Sees Bankruptcy Possible, Faces $8 Billion Shortfall
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Fallen crypto mogul Sam Bankman-Fried is shutting down Alameda Research, the trading house at the heart of his digital-asset empire, as he seeks last-ditch financing to save his troubled crypto exchange FTX.com. 

Bankman-Fried, who on Wednesday told investors that FTX may have to seek bankruptcy if it doesn’t get a rescue, announced the move in a series of tweets on Thursday, adding that FTX is “spending the week doing everything we can to raise liquidity.”