Sam Bankman\u002DFried said he did not steal money and blamed collapse of his now\u002Dbankrupt FTX exchange on broad crash in cryptocurrency markets.
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The 30-year-old onetime billionaire wrote that Alameda failed to hedge against an “extreme” crash in the crypto markets, which ultimately came to pass last year. Caroline Ellison, Alameda’s former chief executive, said in her plea hearing that Bankman-Fried and other FTX executives received billions of dollars in secret loans from Alameda.
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