In the early days of establishing Alameda, SBF almost lost all the funds it raised for the first time.

Odaily Planet Daily reported that "The Big Short" author Michael Lewis disclosed in his new book "Going Infinite" that since the establishment of Alameda Research in 2017, the 26-year-old SBF has raised nearly $170 million from the "effective altruism community" , SBF invested these funds in the cryptocurrency market and lost millions of dollars in the first few months, losing more than $500,000 a day in one month, while some trading funds "simply disappeared" due to poor fund management. In addition, SBF once used a robot program called Modelbot to trade nearly 500 tokens on about 30 exchanges, but the program did not distinguish between highly liquid cryptocurrencies such as Bitcoin and Ethereum and memecoin, which has sparse trading volumes. Stirring concerns among Alameda's early employees, things didn't start to improve until Gary Wang and Nishad Singh joined the company. Wang is said to have programmed a quantitative trading system and started making money for Alameda, while Singh integrated various parts to manage the company. (CoinDesk)