You may have heard of cryptocurrency exchange FTX and you may have heard of its CEO and Founder, Sam Bankman-Fried. But have you heard of Alameda Research? 

It’s not a Silicon Valley robotics lab but it is one of the largest and most influential cryptocurrency trading firms in the world. Founded by Sam Bankman-Fried and operating with a modest team of 30 employees, Alameda pocketed over $1 billion dollars in profit last year. The firm and its employees have, for the most part, preferred not to draw too much attention. In recent months though, it’s gotten harder for Alameda to fly under the radar, as the collapse of crypto has revealed a tangle of connections between Alameda, FTX and the broader virtual currency markets.  

But as Alameda’s influence spreads and connections emerge, so have concerns over potential conflicts of interests. 

Bloomberg reporter Hannah Miller joins guest host and Bloomberg crypto senior editor Anna Irrera in this episode to untangle these connections.

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