• The former co-CEO of Sam Bankman-Fried's Alameda crypto trading firm was a risk-loving, poker-playing gambler

    10 days ago - By Business Insider

    The collapse of FTX and Alameda Research has shocked the crypto world. OLIVIER DOULIERY/AFP via Getty Images
    Alameda's former co-CEO used poker and blackjack strategies in crypto trading, Bloomberg reported.
    Trabucco frequently and publicly revealed how much he applied what he learned from his time at card tables to the crypto market.
    Trabucco hasn't publicly been accused of any wrongdoing in the wake of FTX's blow-up.
    The high appetite for risk at the now-collapsed FTX crypto exchange may trace some of its roots to the card-playing skills held by the former co-CEO of its closely...
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  • Binance CEO pledges to form a $1 billion fund to buy distressed assets in the wake of FTX's collapse

    10 days ago - By Business Insider

    Changpeng Zhao, CEO of Binance. REUTERS/Darrin Zammit Lupi
    Binance CEO Changpeng Zhao said he aims to commit $1 billion to invest in distressed crypto assets.
    "If that's not enough we can allocate more," Zhao told Bloomberg.
    Zhao is launching a fund to help struggling crypto projects in the wake of FTX's implosion.
    Binance CEO Changpeng Zhao pledged to launch a fund that will commit $1 billion to invest in distressed crypto assets. "If that's not enough we can allocate more," Zhao said. In a Bloomberg interview on Thursday, the crypto billionaire expanded on his previously announced plans...
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