December 6, 2023
Caroline Ellison’s testimony against Sam Bankman-Fried: five key takeaways

The former Alameda CEO offered stunning testimony against her ex-boyfriend and failed crypto mogul being tried for fraud

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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