New York CNN —Prosecutors grilled former crypto king Sam Bankman-Fried on Monday as his criminal fraud trial entered its third week. The pace of withdrawals then increased further, with about $4 billion in net withdrawals the following day, or 100 times more than a typical day. A market downturn meant that assets associated with FTX’s sister company, the hedge fund Alameda Research, “declined massively in value,” he said. Ellison agreed Alameda should have been hedgedBankman-Fried on Monday recalled a conversation he had with Caroline Ellison, his ex-girlfriend and then-CEO of Alameda Research. “Do you recall saying FTX and Alameda acted separately?” Sassoon asked.

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Persons: Sam Bankman, Bernie Madoff, ”, Fried, Judge Lewis Kaplan, Bankman, FTX, “, SBF, Ellison, Caroline Ellison, Danielle Sassoon, ” Sassoon, “ I’m, Sassoon, ” SBF, What’s Organizations: New, New York CNN, Prosecutors, Alameda Research, “, PR Locations: New York, Alameda, Alameda . Alameda