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The Guardian - US

Business

Victoria Bekiempis

THE TRUTH ABOUT: Caroline ellison s testimony against sam bankman fried five key takeaways - The Untold Story

Caroline Ellison Sam Bankman-Fried Bankman Alameda FTX Danielle Sassoon Mark Cohen Crypto Alameda Research

Former Alameda Research CEO Caroline Ellison in a scrum of reporters. — Former Alameda Research CEO Caroline Ellison delivered stunning testimony against Sam Bankman-Fried over three days. Photograph: Michael M Santiago/Getty Images

In the second week of FTX founder Sam Bankman-Fried’s crypto fraud trial, Manhattan federal prosecutors called their star witness to the stand: former Alameda Research CEO Caroline Ellison. She delivered stunning, detailed testimony against the failed crypto mogul.

Over the course of three days, Ellison, also Bankman-Fried’s ex-girlfriend, described her work at FTX’s sister hedge fund – repeatedly implicating Bankman-Fried in allegedly siphoning $10bn in customer funds from the cryptocurrency exchange to boost Alameda after a crash in the market.

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