Alameda Secretly Had Value of Negative $2.7 Billion, Insider Tells Court

to use the crypto exchange FTX to buy and trade digital currencies, even if you had absolutely no idea what you were doing? Or when Tom Brady waswere inking their lucrative FTX contracts, Alameda Research — the hedge fund and sister company to FTX that held a central role in the exchange's finances and ultimately its financial demise — was compensating for an alleged $2.7 billion hole in its balance sheet and making risky bets with cash it didn't have.

The Monolopy-money-feeling to these "Sam Coins" aside, however, the mention of FTT feels significant. FTX's November implosion — the crisis that led to today's ongoing criminal trial — is understood to have been triggered by aThis selloff quickly plunged Alameda into catastrophic collapse, and swiftly thereafter, FTX was crumbling alongside its sister firm.

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