The US Commodity Futures Trading Commission asserts that Sam Bankman-trading Fried’s firm Alameda Research had a covert speed advantage when processing orders on his now-defunct FTX cryptocurrency exchange.

According to the CFTC, Alameda was able to bypass certain portions of the system and gain faster access. Even though institutional customers’ orders were still routed through the FTX system. Transaction orders were thus received several milliseconds quicker than those of other institutional clients.

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