SBF told the court on Monday that FTX's collapse was caused by Caroline Ellison's failure to adequately hedge against market declines. SBF said he asked Ellison to make the trade to offset the risk of falling cryptocurrency prices starting in mid-22. (Reuters)
According to previous news, SBF testified in court last Friday that he had asked Caroline Ellison, the former CEO of Alameda and his ex-girlfriend, to hedge Alameda’s investment positions as the cryptocurrency market deteriorated in 2022, but Ellison never followed his advice. . The current testimony provided by SBF is contrary to the testimony of Caroline Ellison.