All articles tagged with #alameda
Shots were fired at a vehicle that backed into a U.S. Coast Guard base in Alameda, California, after the vehicle failed to comply with commands and posed a threat, with no injuries reported. The incident occurred amid protests against immigration enforcement and the cancellation of a planned federal surge into San Francisco by President Trump. The FBI is investigating the event.
Hundreds of protesters gathered outside the Alameda Coast Guard Station to oppose federal agents' arrival for an immigration surge operation, resulting in clashes that included the use of flash bangs, injuries, and detentions, amid ongoing community resistance.
A property in Alameda, California, is on the market for $400,000, considered a bargain despite being underwater. The current owner bought it sight unseen for $100,000 at an auction, only to discover its submerged state. Realtors believe the location has potential for a luxurious home built on stilts, though it will require significant investment and special permits. The site offers peaceful waterfront views and could attract wealthy buyers from Silicon Valley.
A property in Alameda, California, bought at auction for $100,100, is now listed for sale at $400,000 after the new owner discovered it is entirely underwater. The listing, described as a "water lot," highlights its prime location near amenities, though building on it would be costly.
A property in Alameda, California, listed for $400,000 is entirely underwater, presenting a unique investment opportunity. The 10,130-square-foot lot, located near good schools and amenities, requires extensive approvals and development to be usable. The current owner, who bought it at auction without realizing its condition, is now selling to recoup losses. The property has been on the market for 303 days, highlighting the importance of due diligence in real estate purchases.
Nishad Singh, a former employee and friend of Sam Bankman-Fried, testified in court about Bankman-Fried's alleged financial misconduct. Singh revealed that Bankman-Fried admitted to being short on delivering $13 billion owed to FTX, causing Singh to feel betrayed. Singh also described Bankman-Fried's excessive spending habits, including investments in Bitcoin mining, endorsement deals, and real estate. Singh pleaded guilty to six felonies and implicated Bankman-Fried, along with other FTX executives, in committing crimes. Despite feeling intimidated by Bankman-Fried, Singh testified against him, while Bankman-Fried's mother cried in court.
An engineer from FTX, the cryptocurrency exchange founded by Sam Bankman-Fried, testified about Bankman-Fried's "excessive" spending at Alameda, a trading firm affiliated with FTX. The engineer's testimony was featured on CNBC Crypto World, shedding light on the impact of the FTX collapse on the industry and discussing Lisbon's role as a top crypto hub.
The jury in the Bankman-Fried trial heard a tape recording from Alameda's final days, which was described as "pretty bad." The tape is expected to provide crucial evidence in the ongoing legal proceedings.
Alameda city officials have called on San Francisco to cancel or relocate the annual Portola Music Festival due to significant noise complaints from Alameda residents. Despite efforts by the festival organizers to address the issue, noise impacts persisted during the electronic music event held at Pier 80. The festival, organized by Goldenvoice, drew criticism in 2022 for excessive noise levels and has faced ongoing challenges in mitigating sound travel. The San Francisco Entertainment Commission plans to meet with city officials to address the concerns if the festival returns for a third year.
Employees at cryptocurrency exchange FTX discovered a secret backdoor used by Alameda Research, a major trading firm, months before its recent collapse. The backdoor allowed Alameda to access FTX's trading data and gain an unfair advantage in the market. FTX employees raised concerns about the issue internally, but no action was taken until Alameda's collapse, which has raised questions about the exchange's security measures and oversight.
Excerpts from interviews with Sam Bankman-Fried, the former CEO of FTX, reveal his claims of being an altruistic risk-taker who was unaware of the operations at Alameda, the crypto hedge fund accused of borrowing billions from FTX and its customers. Bankman-Fried also asserted that FTX's U.S. operations were unaffected by Alameda's collapse, despite customers still waiting for their funds. His leaked notepad suggests that a historical accounting quirk led to the oversight of Alameda's loans. Bankman-Fried's trial for wire fraud and conspiracy charges has begun.
Internal communications from now-bankrupt crypto exchange FTX reveal that leadership had difficulty understanding their own positions and recordkeeping, making it nearly impossible to comply with normal financial controls. FTX founder and former CEO Sam Bankman-Fried saw this as a sign of success, describing Alameda, the company's recordkeeping system, as "hilariously beyond any threshold of any auditor being able to even get partially through an audit." However, the lack of proper recordkeeping ultimately led to FTX's downfall.
Alameda, the trading firm behind the cryptocurrency exchange FTX, reportedly lost track of $50 million in funds due to poor management. The CEO of FTX, Sam Bankman-Fried, acknowledged the loss, stating "such is life" and that the company is taking steps to prevent similar incidents in the future. The incident highlights the risks and challenges of managing large sums of money in the cryptocurrency industry.