The Sam Bankman-Fried (SBF) trial continues, with the FTX founder himself on the stand.
After Bitcoin fell to $20,000 in June 2022, Alameda's net asset value was about $10 billion, SBF trial reveals. Former Alameda CEO Caroline Ellison regretted not having hedged more and offered to step down, according to recent declarations. SBF is on trial for orchestrating a multibillion-dollar fraud, leaving a lot of customers, individuals, and organizations alike, suffering exposure-related losses.
SBF claimed that he had discussions with both Alameda Research executives, Caroline Ellison and Sam Trabucco. The latter left the company in August 2022, claiming he “needed to relax” and had “bought a boat”. FTX imploded a few months after, with Trabucco still keeping a low profile. Specifically, the conversation was about hedging, which to the layperson is basically taking an offsetting position in an asset or investment that reduces the price risk of an existing position.
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