Posted 10/6/2023, 3:00:00 AM
FTX Founder Resisted Board Oversight Despite Concerns Over Ties to Alameda
- SBF was 'very resistant' to having investors on FTX's board, believed they didn't add much value
- Paradigm co-founder engaged in conversations with SBF before $125M investment in FTX
- Investors were concerned about lack of structure at FTX and ties to Alameda Research
- There were worries Alameda received preferential treatment from FTX
- Paradigm investor says they were told Alameda did not get special privileges
- FTX co-founder later testified Alameda had near unlimited access to capital
- Investor says decision to invest would have changed if told FTX used customer deposits
