In a surprising revelation during the trial, Caroline Ellison, SBF's former companion and business partner, said the founder and CEO of FTX had desires to become President.
Caroline Ellison Said That Sam Bankman-Fried Wanted To Be U.S. President
In a surprising revelation during the trial, Caroline Ellison, SBF's former companion and business partner, said the founder and CEO of FTX had desires to become President of the United States.
Ellison testified against Bankman-Fried, admitting to fraud while working for Alameda Research under his direction. She stated that Bankman-Fried organized the hedge fund's misappropriation of $14 billion from the exchange. Ellison further said that between $10 billion and $20 billion in FTX user cash were put into Alameda without being notified to investors or auditors.
Ellison also said that Binance owned “owned $2 billion” of FTX stock, which SBF wanted to buy back “otherwise Binance would cause trouble.”
Bankman-Fried's defense attempted to transfer part of the blame onto Ellison, claiming that she utilized the exchange's cash at her discretion.
Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
