Odaily News SBF allegedly asked former Alameda Research CEO Caroline Ellison to come up with different ways to hide billions of dollars in loans on Alameda Researchs balance sheet. In her Oct. 11 testimony, Ellison described what she and SBF did before meeting with Matt Ballensweig, co-head of trading and lending at crypto lender Genesis, who requested an update on Alameda’s balance sheet. Ellison said: Sam (SBF) said not to send the balance sheet to Genesis. We borrowed $10 billion from FTX and provided $5 billion in loans to our own executives and affiliated entities. We thought Genesis might Share the information. He asked me to think of other ways to present the information. He wanted me to hide things on the balance sheet. So I prepared 7 different balance sheets. I didnt want to lie, but I told Sam brought up other options and let him decide, Ellison added. According to court testimony, the incident occurred on June 19, 2022. Ellison said that among seven alternatives, SBF chose not to disclose the $9.9 billion it owed FTX customers in order to make Alameda look less risky. (Inner City Press) Previous news, Matt Ballensweig resigned on September 28, 2022.