Turns out reading the terms of service wouldn’t have saved FTX customers. The Verge

The US government says it was fraud from the jump. The complaint made public today by the Commodity Futures Trading Commission has some hair-raising details — and if it’s right, Sam Bankman-Fried hasn’t been telling the truth for quite some time. According to the complaint, Bankman-Fried operated Alameda Research and FTX as a common enterprise, for instance. This complaint is civil.

In a press conference today, US attorney Damian Williams characterized Alameda Research and FTX as “one of the biggest financial frauds in American history.”

Sam Bankman-Fried was deeply involved with Alameda Research

Bankman-Fried said that he “didn’t know exactly what was going on” at Alameda Research and that he “wasn’t running Alameda.” According to…

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