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Zenger
Zenger
Murtuza Merchant

Citigroup Passed On Alameda Research Partnership Due To Lack Of Risk Management: Report

Alameda Alameda Research Citigroup Sam Bankman-Fried Crypto SBF Caroline Ellison FTX
Citibank building in Canada Square, at the heart of Canary Wharf financial district on 14th October 2022 in London, United Kingdom. Canary Wharf is an area located near the Isle of Dogs in the London Borough of Tower Hamlets and is defined by the Greater London Authority as being part of London's central business district. Citigroup considered partnering with Alameda Research, a now-bankrupt crypto trading firm, to launch a crypto lending business in 2020, but decided against it due to concerns about the firm's lack of risk management. MIKE KEMP/BENZINGA
General view of Citibank UK headquarters in Canary Wharf. lameda Research had a reputation for applying Wall Street-style strategies to the crypto world, but struggled with investing and was known for taking risky bets on cryptocurrency and startups. VUK VALCIC/BENZINGA

 

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