The FTX failure has been a big deal and according to statistics it was one of the biggest losses in the financial world in a short period of time. The event was one of the events, while FTX CEO S.B.F. and Alameda Research CEO Carolyn Ellison have reportedly been added to the top of the list for what is reportedly a $51 billion-dollar loss to traders, reportedly the former’s biggest losses in 2021. Marked as a loss and at the same time this loss is being told as the biggest loss. Where before the collapse of FTX, Archegos Capital Management reports that it lost $10 billion in total return swaps and founder Bill Hwang reportedly lost it all in 2 days.
Morgan Stanley and bond trader Howie Hubler lost $9 billion in 2008 under trader losses from FTX and Archegos as traders and the company owed money in credit default swaps, as well as JP Morgan Chase and Bruno Ixil. Credit default swaps caused a loss of $9 billion. That same year the Chinese firm Tsingshan Holding Group tried to short the commodity nickel and it was bad enough to send them a loss of $8 billion and we can say that below this a whopping $6.12 billion was owed to Societe Generale and Jerome Curviel. The biggest loss was while FTX personally surpassed all the shorts in terms of losses and is the biggest loss in terms of fraud and non-fraud. Interestingly, Wikipedia founder and editor Ja Elaborates that none of the funds associated with Bernie Madoff’s Ponzi scheme were involved and that the scheme reached the same $50 billion threshold as FTX, but according to the editor it did not lose the majority of this money in trending, whereas in recent days Some people have pointed out and highlighted the many disparities between Bernie Madoff and SBF and therefore decide not to include Madoff’s fall because it was a Ponzi scheme. The FTX fiasco is included in the list. Despite the fact that the FTX investigation is still ongoing which shows that the matter is yet to be resolved while many sources claim that the former CEO was inexperienced and not a councilor and that the government court is not functioning well and that Shying away from full disclosure now shows Aamir that Alameda Research CEO Carolyn Ellison was allegedly a terrible margin trader, according to some people commenting. Beyond that there is a lot of speculation and there are a lot of systems that are responsible in humans and indeed there is speculation that the FTX and Almeida operations were Ponzi-like systems. Some say Almeida didn’t even actually trade crypto, but instead “invested $8 billion” in 448 venture-stage startups, most of which have ‘1-10’ employees and zero documentation. And moreover, to Yves Smith, no one in the media has asked what happened to the $3.3 billion allegedly given by Alameda to the SBF.
In the midst of ongoing investigation and verification process, we can say that everything is going well and of course we will reach out to anyone and everyone and find out how exactly such a big blunder and such a big scam happened but this It is clear that this has concentrated in the form of biggest losses and trading concerns with FTX becoming a major alternative. Exactly the same as applied to Madoff’s $50 billion mistake. The point is that, right now, there is not enough evidence to say that the FTX and Alameda fiasco was in fact a legitimate “trading loss”, or that most of the $51 billion cited in the Wikipedia article was lost in trading mistakes.
