FTX Bankruptcy Trade Mints 200% Windfall and Sparks Legal Battle

The profits were multiplying at a dizzying clip: 50%, 100%, then suddenly almost 200%. Even for long-time veterans at Attestor Ltd., a boutique London firm that specializes in trading distressed assets, this had the makings of a score to remember.

The trade — targeting the remains of Sam Bankman-Fried’s once-vast cryptocurrency empire — became a popular one in distressed investing circles last year.

Never miss an episode. Follow the Big Take podcast on iHeart , Apple Podcasts , Spotify or wherever you listen. Read the transcript .

Many of Attestor’s rivals jumped in, too, and as the ...