Sam Bankman-Fried called his Stanford Law professor parents when FTX was collapsing: 'Hey guys, there might be a problem'

Quick Summary:

The FTX founder told his parents that the position of Alameda Research, a hedge fund also founded by Sam Bankman-Fried, "might be imploding here".

Partly instrumental in FTX's collapse was Alameda Research, a trading house that Bankman-Fried also founded in 2017.

"But anyone who was close to me, including my parents, including employees, co-workers, who fought with the company to push forward, were hurt by this and bore no responsibility for that".

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Article Details

Category: Economy

Markets: United States

Topics: Tech News Dealbook 2022 Crypto Cryptocurrency Ftx Alameda research Sam Bankman-Fried News

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-12-01 @ 01:46:17 (2 months ago)

News Timezone: GMT -5:00

Ranking: #85 (out of 6319 stories this day)

News Source URL: businessinsider.com

Language: English

Article Length: 414 words

Reading Time: 3 minutes read

Sentences: 42 lines

Sentence Length: 10 words per sentence (average)

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Copyright Owner: © Business Insider

News ID: 2070030

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