This is what Alameda was doing on FTX right? Crazy that they managed to lose money even though they had priority access to front run customer orders.
Their MM operation was making lots of money according to someone I talked to. Just not enough to offset them setting it on fire.
Alameda did many illegal things, including lying to investors about their returns to get funding. And pump and dumping a huge lot of shitcoins which SBF created or funded.
So I don't doubt they'd also frontrun their customers.