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Former Alameda Research CEO Caroline Ellison offered more details about various financial crimes she committed at FTX with her ex-boyfriend, Sam Bankman-Fried while testifying in court on Wednesday.
Instead, the exchange conspired with two Chinese individuals with insider connections to the Chinese government. One of the individuals – David Ma – told FTX’s executives at the time that he had a way to get their $1 billion in funds unfrozen, after they had been seized as part of a money laundering investigation. Though some objected, Bankman-Fried was intent on using Ma’s method.
Ellison noted that he had investments in the media site Semafor, and had considered Vox and Forbes as well.as an eccentric founder.” The founder’s purposely uncombed hair and choice to drive a Toyota Corolla were also a part of this effort. In June 2022, institutional crypto trading firm Genesis had recalled a $400 million loan from Alameda, and also requested an updated view of Alameda’s balance sheet. At the time, Alameda had already taken $10 billion from FTX customers through a massive line of credit, and Bankman-Fried was reluctant to reveal the truth, according to Ellison.
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Caroline Ellison Says Bankman-Fried Steered FTX DeceptionFTX founder Sam Bankman-Fried is on trial for fraud and conspiracy charges after the collapse of his crypto empire last year. WSJ’s Alexander Osipovich breaks down what happened to FTX and what to look for as the trial unfolds. Photo illustration: Annie Zhao
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Star witness Caroline Ellison says FTX founder Sam Bankman-Fried hoped to be U.S. president somedayCaroline Ellison, the tech executive who ran Sam Bankman-Fried 's hedge fund while sometimes dating him, testified Tuesday that he directed her to commit crimes before his cryptocurrency empire collapsed last November. She also revealed that her former boss thought he might be U.S. president someday.
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