In the ongoing trial of Sam Bankman-Fried, the founder of cryptocurrency exchange FTX, his lead attorney argued that the firm’s former CEO, Sam Bankman-Fried, was responsible for the company’s financial troubles. According to the attorney, Bankman-Fried had advised the CEO to put on a hedge, but she failed to do so, leading to dire consequences for the firm. The attorney claimed that Bankman-Fried was not an unwitting front-person but rather had control over the trading fund. The trial will further examine the actions and decisions of both Bankman-Fried and the former CEO to determine their roles in the firm’s financial straits.

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