How much money does Alameda Research still have?
On Friday, Sam Bankman-Fried’s bankrupt trading company Alameda Research deposited over $30 million into Binance. Given that Bankman-Fried is currently serving a 25-year prison sentence for orchestrating fraudulent schemes at FTX related to Alameda Research, the transfer immediately raised questions about Alameda’s assets. Specifically why, if almost all of these bankruptcy estate assets are supposed to be returned to victims of Bankman-Fried’s schemes, does it have any money left? Unfortunately, the finances of FTX and its sister trading company have been a mess since the conglomerate filed for bankruptcy in November 2022. As a result, figuring out how much money FTX and Alameda Research still leads to a bit of a rabbit hole. A bankruptcy mess worse than Enron John J. Ray III, who cleaned up the mess of Enron and other massive bankruptcies like Nortel Networks, described the state of accounting at FTX as far worse . Executives like Bankman-Fried...