Employee Reveals The Truth About FTX Behind Closed Doors
A former engineer at Alameda Research, Aditya Baradwaj, has come forward with shocking details about FTX and its founder, Sam Bankman-Fried (SBF), in a post on X (formerly known as Twitter).
Main breakdowns:
- Baradwaj discloses how Bankman-Fried stole his life savings, leaving him broke.
- FTX had little press coverage and an unremarkable office when Baradwaj started working for Alameda Research.
- Baradwaj shares a conversation with SBF where he emphasizes decentralization while running a custodial, KYC’d derivatives exchange.
- SBF made unfulfilled promises and had visions beyond cryptocurrency, including plans for a vaccine factory and technologies for embryo selection.
- FTX had subpar risk management and lost millions from frivolous transactions.
Bankman-Fried’s Legacy Of Unfulfilled Promises
Baradwaj reveals SBF’s unfulfilled promises and visions that extended beyond the crypto industry. These included plans for a vaccine factory, technologies for embryo selection, and efforts to eradicate malaria and promote veganism. Despite these grand visions, FTX lacked responsibility, with subpar risk management and financial disarray caused by alleged fraudulent activities and scams by SBF.
Hot Take:
The revelations by Aditya Baradwaj shed light on the dark side of FTX and Sam Bankman-Fried’s leadership. It highlights the importance of due diligence and caution in the crypto industry, as even well-known figures can engage in irresponsible and fraudulent behavior. This serves as a reminder for crypto enthusiasts to be vigilant and hold those in power accountable.
By
By
By
By
By