The purchase was funded by Bankman-Fried’s trading firm, Alameda Research. Alameda, however, was insolvent at the time, and second-in-command Caroline Ellison warned that “we don’t really have the money for this, we’ll have to borrow from FTX to do it,” according to a Sunday filing with the U.S. Bankruptcy Court for the District of Delaware.

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Author: Jamie Crawley