Driven by SBF’s Megalomania to Take More and More Risks, This Is How the 30 Traders of Alameda Research Caused the FTX Collapse.

At its inception in 2017, Alameda Research promised “Madoff-like,” steady, risk-free performance. While conceding that the cryptocurrency market was “exciting and dangerous,” Sam Bankman-Fried assured 15% returns per year and told investors they could withdraw their money at…