Yedidia was called to testify about a bug in FTX’s accounting software that caused it to overstate the amount of money Alameda Research owed exchange customers by $8 billion. This was a big problem, as customers had wired their money to the trading firm and then got credited in their FTX account. The arrangement was one factor in FTX’s subsequent loss of $8 billion in customer funds, according to prosecutors.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | negative |
| Relevance Score | 8 |
| People | FTX, Alameda Research, Yedidia |
| Companies | prosecutors, exchange, trading firm, FTX, Alameda Research |
| Currencies | None |
| Securities | None |
