FTX likely poached many major clients at the time, including Three Arrows, a major casualty of the previous round. Zhu Su later recalled in a media interview that 3AC's positions were targeted and killed by FTX/Alameda, leading to a margin call (precise liquidation). He also described FTX's actions and accused them of manipulating the market to cause the collapse. Therefore, I find the recent resurgence of nostalgia for SBF very incomprehensible. Investing in Claude's parent company was merely a survivor of a broad-based investment strategy; after all, he was the richest man in his 20s in the US at the time, with top-tier resources. It was only afterward that people discovered he was using users' money to scatter funds. There's no denying the misappropriation of user assets. We cannot forget the lessons learned.

Bloomberg also reported on this event. bloomberg.com/news/features/20...…