Giant crypto market making agency Leap Buying and selling misplaced practically $300 million within the collapse of FTX, in response to Michael Lewis’ new book “Going Infinite” about Sam Bankman-Fried and the failure of his crypto trade.
The ebook says Leap was “close to the highest” of the checklist of FTX’s 50 “greatest accounts whose house owners had been unable to take away their cash from the crypto trade,” Lewis wrote. Leap Buying and selling misplaced $206 million whereas its affiliated buying and selling agency, Tai Mo Shan Ltd., misplaced greater than $75 million, in response to the ebook, which cited paperwork found by Constance Wang, ex-chief working officer of FTX.
A Leap spokesperson replied “no remark” when contacted by CoinDesk.
If correct, the ebook underscores the heavy blow Leap endured when FTX collapsed in November. FTX filed for chapter in November and in a court filing revealed that its prime 50 collectors, excluding insiders, mentioned they had been owed $3.1 billion by the trade. The biggest single declare was $226 million, adopted by a $203 million declare. The collectors’ names had been redacted.
