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evidenceevidencedocumentFederal Criminal TrialGovernment Exhibit 25BThe document is part of Caroline Ellison's personal to-do list concerning her Alameda responsibilities and includes work priorities addressing hedging. Testimony concerning the exhibit addressed Alameda's unhedged exposure and competing accounts of responsibility for its financial condition.← All Evidence
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Government Exhibit 25B

The document is part of Caroline Ellison's personal to-do list concerning her Alameda responsibilities and includes work priorities addressing hedging. Testimony concerning the exhibit addressed Alameda's unhedged exposure and competing accounts of responsibility for its financial condition.

GX-25B
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The exhibit was used in testimony presenting failed hedging and market exposure as an explanation for Alameda's financial deterioration, while Ellison disputed that hedging was the fundamental cause of the shortfall.

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