Alameda ex-employee: "We were kept in the dark and continued to work as usual on the eve of collapse."

Former engineer Aditya Baradwaj of Alameda Research, a trading firm under the now-closed FTX, has once again criticized the company for its lack of organization. He claimed that employees were working as usual the day before the closure, unaware of the situation until former CEO Caroline Ellison confessed.

FTX and Alameda Research: A Close Connection

Alameda Research is a cryptocurrency trading institution founded by SBF, Caroline Ellison, and Sam Trabucco. Despite SBF later shifting focus to managing the cryptocurrency exchange FTX and attempting to maintain a certain distance from its sister company Alameda, the relationship between the two companies remains significant.

Previously reported, former Alameda employee Aditya Baradwaj revealed that even though SBF had transitioned to managing FTX at the time, and Caroline Ellison had become the CEO of Alameda Research, the two companies still had a high degree of association, sharing offices, social spaces, and accommodations between the two companies were common.

When I first walked into the office, I saw SBF sitting at the central desk, playing "League of Legends" while answering the phone, and that area also served as Alameda's trading area.

He also pointed out several risks between the two companies, including hasty risk management, severe technical debt, and uncontrolled consumer spending.

Naturally, good times don't last, with subsequent reports indicating the close relationship between Alameda and FTX. The exposure of the FTT token in Alameda's balance sheet was a fatal trigger, directly leading to the collapse of both companies.

Business as Usual Until the Day Before the Collapse

Aditya Baradwaj revealed today at 5 am in an interview with Coindesk TV that most employees were basically unaware of the company's operational status until the last few days before the company collapsed, they were still experiencing very busy trading days.

We had no idea what was happening until the last day when Caroline Ellison pulled us aside and told us about the illegal activities behind the company and admitted that the company was on the brink of collapse.

Coindesk confirmed Baradwaj's identity as a former Alameda employee through the pay stubs he provided.

He also pointed out that Alameda's management and risk control capabilities were poor. They made significant decisions with very little oversight; however, traditional financial companies take security measures for each decision.

He added, "Although Alameda had many issues and concerns, we never anticipated blatant illegal activities."

Recalling the fat finger incident: Former employee exposed the BTC flash crash event in 2021, Alameda's hasty trading led to losses of tens of millions of dollars.