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How Did Sam Bankman-Fried’s Alameda Research Lose So Much Money?

By Jeff Kauflin , Emily Mason and Nina Bambysheva A week after the dramatic collapse of Sam Bankman-Fried’s tangled web of crypto companies, countless unanswered questions remain. One of the biggest: How did his trading firm, Alameda Research, apparently lose billions of dollars? Those losses appear to have prompted someone in Bankman-Fried’s operation to improperly…

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