Former FTX CEO Sam Bankman-Fried took part in an interview today with the New York Times today during the publication’s DealBook Summit. He said that Alameda had roughly 10% leverage last year, but that market crashes reduced the value of its assets. Though Alameda was “still under two times leverage as of a month ago,” Bankman-Fried said, more than $10 million was “wiped off in a matter of days,” leaving FTX unable to liquidate that position and generate the money owed.