At Ellison’s direction, FTX executives Wang and Singh gathered data about Alameda’s accumulated borrowings that found the firm had withdrawn deposits amounting to over three-quarters of FTX’s customers’ total holdings, including over half of the ETH on the exchange and lesser amounts of customers’ USDT and BTC. A later witness, Alameda developer Aditya Baradwaj, on Thursday said Alameda lost at least $200 million through preventable mistakes, including $100 million lost to a phishing scheme.

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Author: Daniel Kuhn

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