pete: he s 30 years old, went to mit, clearly a smart guy on some level. he founded alameda research in 2017 and later ftx. good timing for him, by the way, right at the leading edge of when crypto started to take off. a lot of interest in research and leveraging arbitrage, and he started an exchange which is effectively a place where you can trade crypto. will: so consumers would have wallets or accounts with ftx, and the story goes the investigation needs to confirm that there was sort of a back door at ftx where $10 billion made its way from ftx back over to the hedge fund alameda, which was having trouble at the time. pete: that s exactly right. alameda made some really good, early bets, made a lot of money. then as crypto started to dive, alameda became insolvent. so sbf said i ve got a bank other here of other people s money that they had put into ftx, and he loaned it to his company to try to make it