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TechFlow news — According to a series of filings submitted by FTX's new CEO John Ray to the Delaware court, Alameda Research received a "secret exemption" in FTX's liquidation proceedings. While lacking details, the court documents indicate that Alameda had an advantage when engaging in high-risk leveraged trading on FTX.
Reportedly, crypto derivatives exchanges like FTX automatically sell the collateral of traders who borrow funds. Original link
According to a series of filings submitted by John Ray, the new CEO of FTX, to the Delaware court, Alameda Research received "secret exemptions" during FTX's bankruptcy proceedings. While lacking specifics, the court documents indicate that Alameda held advantages when conducting high-risk leveraged trades on FTX. It is understood that cryptocurrency derivatives exchanges like FTX automatically liquidate the collateral of traders who borrow funds.
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