Last year, as cryptocurrency company FTX and sister trading firm Alameda Research were melting down, Alameda CEO Caroline Ellison held an all-hands meeting and told staff that Alameda had taken customer deposits from FTX and could not pay them back. When asked in the meeting by an employee whose idea …

Sam Bankman-Fried’s cryptocurrency exchange FTX may have lost at least $8 billion in customer money, but he “didn’t intend to defraud anyone,” his defense team said Wednesday during the opening arguments of his highly anticipated trial. Though legal experts had long speculated that Bankman-Fried, or SBF for short, would take …