My understanding is that Alameda was a market maker, which should have less exposure to down / upswings.
What kind of bets was Alameda making? Why would it need so much leverage?
I understand why loaning money to Alameda could be rationalized a risky, but not sketchy move (if Alameda posted collateral, paid reasonable terms like anyone else would, etc.).
What kind of bets was Alameda making? Why would it need so much leverage?
I understand why loaning money to Alameda could be rationalized a risky, but not sketchy move (if Alameda posted collateral, paid reasonable terms like anyone else would, etc.).