The reply is quite a bit. Within the first day of what’s certain to be a prolonged testimony, Caroline gave the jury a methodical tour of the crypto loans that felled Alameda, FTX and the trade’s clients, buyers and lenders. By her account, it was all about appearances. She mentioned the extremely illiquid “Sam cash” that made Alameda’s stability sheet look strong to main lenders, together with Genesis (a subsidiary of CoinDesk proprietor Digital Forex Group), which subsequently loaned the hedge fund billions of {dollars} secured by soon-to-be-toxic collateral: FTX’s personal cryptocurrency, FTT.
