SBF planned to shut down Alameda Research two months before the collapse of FTX

ChainCatcher news, according to The Block, Sam Bankman-Fried presented a draft of a tweet he wrote in September 2022 during the trial, planning to announce the closure of Alameda Research in this way. The tweet stated that the biggest failure was losing track of Ripple tokens worth millions of dollars, "In February 2018, we became lazy, and our accounting became lazy, and we lost most of our revenue." He also claimed that the notion of Alameda and FTX being too close was spread by competitors.

FTX co-founder Gary Wang testified that SBF ultimately did not close Alameda Research because the company owed FTX $14 billion and was over-leveraged to shut down.