Caroline Ellison, a key witness in the prosecution of Sam Bankman-Fried, the founder of the bankrupt cryptocurrency exchange FTX, delivered an emotional testimony on October 12.
Caroline Allison Gives An Emotional Testimony
Caroline Ellison, a key witness in the prosecution of Sam Bankman-Fried, the founder of the bankrupt cryptocurrency exchange FTX, delivered an emotional testimony on October 12, expressing a “constant state of dread” during her time at Alameda Research. Ellison stated that Bankman-Fried, her boss and on-and-off romantic partner, asked her to utilize FTX customer assets to cover losses at Alameda, costing FTX customers $8 billion.
During her testimony, Ellison expressed her knowledge that they would need to utilize funds from their FTX line of credit, causing her to worry constantly over potential customer withdrawals. She started crying and her voice quivered when talking about the time she knew it was clear that Alameda and FTX would collapse. She said, “I just felt a sense of relief that I didn’t have to lie anymore.” The trial continues with Bankman-Fried's defense expected to present their case.
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