Sam Bankman-Fried offered lenders 20% returns in a scramble to rescue his crypto empire from an earlier crisis in 2018, report says

01/02 11:56

FTX cofounder Sam Bankman-Fried promised potential lenders returns of up to 20% as he sought to save his crypto empire from an earlier crisis in 2018, a report said.The Wall Street Journal described problems at Alameda Research, the sister company to FTX, which it said stretched back years before its collapse in late 2022.Citing anonymous sources, the outlet said Alameda was already struggling in 2018.
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