SBF and Caroline Ellison conspired to keep Bitcoin under $20K, but did it work?

On Oct. 11, Caroline Ellison, the former head of the now-defunct Alameda Research, informed a U.S. court that she received instructions from FTX’s co-founder and CEO, Sam “SBF” Bankman-Fried, to sell Bitcoin (BTC) if its price remained above $20,000.

This admission came as a shock to the entire crypto industry, but the two conspiring to suppress BTC price, versus actually doing it are two different things.

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