"FTX Employees Uncover Alameda's $65B Backdoor Prior to Collapse"

FTX employees discovered a backdoor that allowed affiliated trading firm Alameda Research to have a negative balance of up to $65 billion using customer funds, months before the collapse of the crypto exchange. The employees alerted their division boss and discussed it with former FTX CEO Sam Bankman Fried's lieutenant, but the issue was never resolved. The team leader who raised the concern was subsequently fired. The backdoor is a key part of the prosecution's case against Bankman-Fried, who faces multiple fraud charges and has pleaded not guilty.