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Alameda Statement from Sam Bankman-Fried

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Sam Bankman Fried, the former CEO of FTX, told Alameda Research that he had been given special treatment in the past.

SBF stated that Alameda has a much larger credit limit compared to other FTX customers.

Sam Bankman-Fried Drew Attention to the Level of Lending


Speaking to the Financial Times, SBF said that in the early days of the FTX exchange, high credit levels were accessible on the exchange.

SBF declined to provide any information on how high these limits are compared to other customers.
SBF cited Alameda’s role as the main liquidity provider in the establishment of FTX before other financial groups showed interest as a reason for this.

“If you go back to 2019, when FTX was first launched, at that point, Alameda accounted for 45% of the platform’s volume. Basically, in the event that Alameda’s account ran out of capacity to take new positions, it could have posed a risk on behalf of the platform, as we did not have enough liquidity providers. For this reason, I think the limits are quite high.”

SBF noted that in 2022, Alameda’s trading volume on the FTX is only 2%.

The founder of FTX said at the time of the bankruptcy filing that Alameda’s liabilities to FTX amounted to about $ 10 billion.

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