Alameda Research obtained a secret exemption in the FTX liquidation proceedings

ChainCatcher news, according to a series of documents submitted to the Delaware court by FTX's new CEO John Ray, Alameda Research received a "secret exemption" in FTX's liquidation proceedings. The disclosures in the court documents, while lacking in detail, indicate that Alameda had an advantage when engaging in high-risk leveraged trading on FTX. It is reported that crypto derivatives exchanges like FTX automatically liquidate the collateral of traders who borrow funds. (CoinDesk)