TechFlow news, on November 22, according to Forbes citing motions from bankruptcy court, FTX Group's consolidated net operating loss carryforward shown in its 2021 tax returns amounted to $3.7 billion. This means SBF's businesses (primarily Alameda Research and FTX) incurred a cumulative net loss of $3.7 billion since inception.
The massive losses are puzzling for two key reasons: they contradict the image SBF painted of his startups and run counter to the high-profit trend across the cryptocurrency industry in 2021. Last year, SBF told Forbes that Alameda earned $1 billion in profit in 2020, and according to CNBC, leaked financial results from FTX showed it was profitable in 2021 with a net income of $388 million.Original link
Add to Favorites
Share to Social Media
