Sublime

Was Chatting With a Well-Known Founder Yesterday About the "Founder...

Remembering the time one of my investors sent me a competitor’s website and was like have you heard of these guys so I sent back sequoia’s website and said have you heard of these guys.

In Hong Kong, Sam and his small team began to pitch the billionaire founders of existing exchanges on the idea of paying Alameda Research (Gary) to create a crypto exchange, different in important ways from any that existed. Alameda would supply the technology; the existing exchanges would supply the customers, and the trust.…

Some highlights have b

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Alameda had also hoovered up about half the existing FTT tokens, for instance, creating, in effect, a second stake in FTX for Sam, with a claim on about one-sixth of all FTX’s revenues. In the past eighteen months, FTT’s price had risen from roughly $3 to roughly $80. Again, it was hard to say how much Sam could unload FTT for, had he tried to sell

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Up to that moment, in late November 2018, Alameda Research had operated in the shadows. They traded more than 5 percent of the total volume of crypto markets and were still a secret. Jane Street had left Sam with the view that there was no upside to publicity, and that the best thing to do was to avoid it. He’d traded billions of dollars in crypto

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