“Bankman-Fried relied on Ellison and he trusted her to behave because the CEO and handle the day-to-day,” Cohen mentioned in his opening assertion final week. “… As the bulk proprietor of Alameda, he spoke to Ms. Ellison, the CEO, and he urged her to placed on a hedge, one thing that will defend in opposition to such a downturn. She did not accomplish that on the time, and this additionally turns into a problem afterward, when the storm hit.”
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