As the trial of embattled FTX Derivatives Founder\u2019s CEO, Sam Bankman-Fried (SBF) enters its second week, former romantic partner and long-term ally, Caroline Ellison has once again <\/span>indicted<\/span><\/a> the crypto innovator.<\/span><\/p>\n In the testimony, Caroline Ellison admitted to committing fraud as CEO of Alameda Research. However, she noted that she did not commit these frauds at her own prerogative as she was directed to do so by Sam Bankman-Fried.<\/span><\/p>\n <\/p>\n As Ellison pointed out, SBF set up the systems that made it easy for him to siphon money from FTX. This system, according to her, was responsible for about $14 billion that Alameda Research could secure from the now-bankrupt digital currency trading platform.<\/span><\/p>\n \u201cAlameda took several billions of dollars from FTX customers and used it for investments,\u201d Ellison said according to reports from the Courthouse. \u201cI sent balance sheets that made Alameda look less risky than it was.\u201d<\/span><\/p>\n<\/blockquote>\n The relationship between SBF and Caroline Ellison is a bittersweet affair in that their voyage as two of the early innovators in crypto was cut short. Ellison was convinced by SBF to leave Jane Street Capital to join him in his crypto endeavors. Both eventually mixed business with pleasure, one of the major actions that many have postulated as one of the reasons behind the implosion of the trading platform.<\/span><\/p>\n <\/p>\n <\/p>\n Ellison is also facing charges relating to her role in bringing the FTX exchange down. Unlike SBF, however, she has <\/span>pleaded<\/span><\/a> \u2018guilty\u2019 to the charges levied against her. As part of government witnesses, the speculations remain that she will bag minimal sentencing for her role in the fraud.<\/span><\/p>\n While everyone who has <\/span>testified thus far<\/span><\/a> has indicted SBF, it is obvious that that trial is currently not going in his favor.<\/span><\/p>\n However, his lawyers might be granted permission to cross-examine <\/span>some of the witnesses<\/span><\/a> with the official court filing for Gary Wang already submitted. With the courthouse drama continuing, the community is more interested in other revelations that will be made by Ellison and other potential witnesses.<\/span><\/p>\n <\/p>\n \u2713 Share:<\/p>\n <\/a><\/p>\n <!– <\/p>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n <\/p>\n <\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n –><\/p>\n –><\/p>\n Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture. Follow him on Twitter<\/a>, Linkedin<\/a> <\/p><\/div>\n<\/p><\/div>\n The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n <!– <\/p>\nCaroline Ellison Makes Bombshell Revelation<\/strong><\/h2>\n
\n
SBF Trial Not Going in His Favor<\/strong><\/h2>\n
\n ![\"coingape\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/08\/14164721\/x-logo.png\"){kind=logo}
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n![\"\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/15175104\/top_crypto_marketing_agencies.jpg\")
<\/div>\n![\"\"](\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2022\/12\/23134356\/jpg_20221223_134223_0000.jpg\")
<\/div>\n![\"\"](\"https:\/\/secure.gravatar.com\/avatar\/733ca3c15c1fbb2629eeb51edb886efb?s=200&d=mm&r=g\")
![\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720.jpg\")
![\"will_cramer_curse_strike_again_720\"](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/will_cramer_curse_strike_again_720.jpg\")
![\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"](\"https:\/\/coingape.com\/wp-content\/uploads\/2023\/05\/mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720.jpg\")