Millions

Aditya Baradwaj, a former employee of Alameda Research, has come forward with allegations regarding his time working for FTX. 
Baradwaj took to social media platform X (formerly known as Twitter) on Aug. 23 to <a href="https://twitter.com/aditya_baradwaj/status/1694355617576898838" target="_blank" rel="noopener noreferrer nofollow">share his account</a> of his experience at the company, shedding light on the tumultuous months that followed the collapse of FTX. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 As an engineer at Alameda Research, I had my entire life savings stolen from me by my former boss: Sam Bankman-Fried. Now, after months of recuperation from the craziness of the FTX collapse, I’m ready to tell my story. Let’s start at the beginning: (1/25) 🧵<a href="https://twitter.com/hashtag/SBF?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#SBF</a> <a href="https://twitter.com/hashtag/FTX?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#FTX</a> <a href="https://t.co/x5wKvT0Dy2" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/x5wKvT0Dy2</a>— Adi (e/acc) (@aditya_baradwaj) <a href="https://twitter.com/aditya_baradwaj/status/1694355617576898838?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 23, 2023</a> 
 </blockquote> 
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div> 
</figure> 
“Now, after months of recuperation from the craziness of the FTX collapse, I’m ready to tell my story,” the former Alameda Research employee declared. 
Recalling his early days at Alameda, Baradwaj described the firm as a “small, mysterious crypto trading firm” with only minor press coverage surrounding Sam Bankman-Fried (SBF), the founder. He recalled learning about the company through reports circulating among students at Berkeley University, where he was pursuing his studies. 
Baradwaj vividly remembered his first encounter with SBF on his first day at the office. He described SBF as being on a call while immersed in a game of League of Legends, capturing the essence of the work culture at the firm. 
Contrary to public perception, Baradwaj alleged that FTX and Alameda were not autonomous entities but closely intertwined. He highlighted joint offices, social events, and shared housing arrangements as the norm between the two companies. 
 You might also like: <a href="https://crypto.news/us-prosecutors-outline-jury-instructions-for-sbfs-trial/" rel="noopener noreferrer nofollow"> US prosecutors outline jury instructions for SBF’s trial </a> 
<h2 class="wp-block-heading" id="strong-the-bahamas-relocation-plan-strong">The Bahamas relocation plan</h2> 
One of the more striking revelations by Baradwaj was SBF’s idea of relocating the company to The Bahamas. According to him, SBF even claimed that FTX’s revenue amounted to more than 10% of the Bahamas’ GDP, an assertion that Baradwaj later confirmed through a quick Google search. 
He recounted that SBF revealed ambitious plans, including building a vaccine factory and addressing Malaria. According to Baradwaj, these plans were all part of a grand scheme that SBF had meticulously laid out. 
Baradwaj also expressed how he was part of an extravagant lifestyle, mingling with celebrities and politicians while at the same time noticing significant issues within the company: 
“Careless risk management for a company handling billions of dollars in capital. Technical debt that would make any software engineer shed a tear. Millions lost in wasteful spending and the hubris that it wouldn’t matter.” 
His insights provide a glimpse into the troubled world behind the companies, which has culminated in SBF’s legal troubles. On Aug. 11, SBF was imprisoned due to allegations of witness tampering involving his former girlfriend, Caroline Ellison, a key witness in the prosecution. 
The allegations go as far as to claim that SBF<a href="https://crypto.news/ftxs-former-ceo-sbf-allegedly-leaked-ex-lovers-diary/" rel="noopener noreferrer nofollow"> released Ellison’s private journals</a> to the New York Times to intimidate her ahead of the trial date in October. 
 You might also like: <a href="https://crypto.news/ftx-founder-bankman-fried-on-bread-and-water-in-jain-lawyers-claim-sixth-amendment-violation/" rel="noopener noreferrer nofollow"> FTX founder Bankman-Fried ‘on bread and water’ in jail, lawyers claim Sixth Amendment violation </a>

Former Alameda engineer reveals insider collapse story, SBF’s plans

Table of Contents

crypto.news

Other articles published on Aug 24, 2023

Balance Solutions: Empowering Businesses with Blockchain Technology

Justice Department Sues SpaceX Over Alleged Discrimination

Crypto SIM Swap Scams Fetch Hackers $13 Million in 4 Months

Ripple VS SEC lawsuit: The SEC Files Motion to Withdraw One if it’s Attorney – Here’s What Next

Dunamu’s Luxury Watch Trading Platform Thrives with Blockchain Edge

Bankrupt FTX Seeks Galaxy’s Help for $3 Billion in Crypto Holdings!

Join our free newsletter for daily crypto updates!