SBF showed investors on the FTX board “extreme resistance”: Co-founder of Paradigm
Matt Huang claimed that he had been under the impression that Alameda Research was not receiving any special treatment from FTX. According to Matthew Huang, the co-founder and managing partner of the crypto investment firm Paradigm, Sam “SBF” Bankman-Fried was strongly opposed to the idea of allowing investors to join the board of directors at FTX. This stance has raised eyebrows, especially among Paradigm and various venture capital firms like Sequoia, Temasek, and BlackRock, who all suffered losses due to their investments in the now-bankrupt crypto exchange. In response, they have faced scrutiny and subsequently issued statements regarding their involvement with FTX. During his testimony in a New York Federal Court on the third day of Bankman-Fried’s trial, Huang asserted that Bankman-Fried believed that having investors on FTX’s board of directors would not bring significant benefits. FTX’s board reportedly consisted of only three individuals: Bankman-Fried himself, an...