[SBF says Alameda Research absorbed hundreds of millions of dollars in losses from FTX customer accounts] Golden Finance reported that FTX founder Sam Bankman-Fried testified on Monday that Alameda Research absorbed FTX through high-risk transactions related to the cryptocurrencies MobileCoin and BitMax Token. Hundreds of millions of dollars in losses to customer accounts. He said that FTX customers exploited some vulnerabilities in the FTX risk engine. As part of its liquidity guarantee provider program, FTX transferred the account to Alameda, which ultimately resulted in hundreds of millions of dollars being lost on the account. FTX's liquidity assurance providers are market makers who agree to handle large account positions that are approaching liquidation.