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if FTX was registered as a Securities Exchange several laws would have required the segregation of customer assets and prevented such clear conflicts of interest Mr bankman freed also appears to have tried to hide the linkages between the exchange and his hedge fund have you seen evidence of such a cover-up have you seen evidence that there was any independent governance of Alameda separate and apart from that of the exchange foreign operations of the XTF group were not segregated uh it was really operated as one company uh as a result Theres no distinction virtually between the operations of the company and who controlled those operations well Mr Ray another bankruptcy filing revealed that Mr bank and freed personally received one billion dollar a one billion dollar loan from Alameda research in a meeting with committee staff Mr bankman freed was unaware of the terms of the repayment interest details and could not confidently State who authorized the loan he claimed that he reinveste