Mini-Report

This is a short unscheduled report on what has transpired over the past two weeks.  All information is accurate to the best of our knowledge as of publishing.  The regular Professional Investor Report will be published in the first week of December.

FTX, a top exchange and trading partner to many institutions, filed for bankruptcy.

September 14th

Bloomberg published an article detailing the close relationship between a market maker, Alameda, and FTX.  Alameda was started by Sam Bankman-Fried (SBF) before the launch of FTX.  FTX then provided preferential treatment to Alameda through an exemption that did not auto-liquidate Alameda's positions.  Keep in mind Alameda and FTX are owned by the same person.  A market maker operating on what is effectively its own exchange is a severe ethics issue at best but certainly legally questionable.