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Ruairi Donnelly’s Early Involvement with Alameda Research and FTX

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According to reports, the Wall Street Journal reported that before becoming the chief of staff of FTX in 2019, Ruairi Donnelly was one of the first employees o…

Ruairi Donnellys Early Involvement with Alameda Research and FTX

According to reports, the Wall Street Journal reported that before becoming the chief of staff of FTX in 2019, Ruairi Donnelly was one of the first employees of Alameda Research. While working for these two companies, Donnelly co-founded Polaris, a foundation headquartered in Switzerland. When FTX was launched, the exchange provided Donnelly and other early employees with a transaction, that is, to purchase FTT tokens at a price of 0.05 dollars each before the public transaction at a price of 1 dollar.

Former FTX executives earn millions of dollars for their foundation through FTT insider trading

Interpretation of the news:


The Wall Street Journal recently reported that Ruairi Donnelly, the current chief of staff of FTX, was one of the first employees of Alameda Research, a quantitative trading firm. It was during his tenure at Alameda Research that Donnelly co-founded Polaris, a foundation headquartered in Switzerland. The foundation aims to support blockchain and cryptocurrency projects that create a positive social impact.

In 2019, Donnelly left Alameda Research to become the chief of staff at FTX, a cryptocurrency derivatives exchange. FTX was founded by Sam Bankman-Fried, the CEO of Alameda Research. The exchange has gained popularity due to its innovative products, including perpetual swaps, options, volatility contracts, prediction markets, and leveraged tokens.

Donnelly’s involvement with Alameda Research and FTX has allowed him to witness the growth of both companies. He was part of the team that helped establish Alameda Research’s reputation as one of the most successful quantitative trading firms in the cryptocurrency industry. Similarly, he played a crucial role in the development of FTX, which has become one of the leading cryptocurrency exchanges in the world.

One of the perks of being an early employee at FTX was the opportunity to purchase FTT tokens at a highly discounted price. FTT is the native currency of the FTX platform and is used to pay for trading fees, collateral, and other services. Donnelly and other early employees were able to purchase FTT tokens at $0.05 each, which is a fraction of the price at which they were sold to the public.

This discounted offering is common in the cryptocurrency industry, where companies offer tokens to early investors and employees at lower prices. This practice is known as an initial coin offering (ICO) or an initial exchange offering (IEO). The goal is to provide early investors with an incentive to fund the project and promote it to the wider public.

In conclusion, Ruairi Donnelly’s early involvement with Alameda Research and FTX speaks to his expertise in the cryptocurrency industry. He has been heavily involved in the development of two companies that have made significant contributions to the blockchain and cryptocurrency space. Additionally, his opportunity to purchase FTT tokens at a discounted price demonstrates the benefits of being an early employee in a fast-growing industry.

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