{"id":173482,"date":"2023-10-13T13:32:55","date_gmt":"2023-10-13T08:02:55","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=173482"},"modified":"2023-10-13T13:32:55","modified_gmt":"2023-10-13T08:02:55","slug":"caroline-ellison-told-alameda-research-about-ftx-user-deposits-last-november-cointelegraph-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/caroline-ellison-told-alameda-research-about-ftx-user-deposits-last-november-cointelegraph-crypto-news\/","title":{"rendered":"Caroline Ellison told Alameda Research about FTX user deposits last November: Cointelegraph &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div>\n<p><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/alameda-ceo-caroline-ellison-testifies-sbf-trial\/\">Caroline Allison<\/a>, the former chief executive officer of Alameda Research, told staff members that the trading firm was using FTX customer funds on Nov. 9, 2022, according to an audio recording of an all-hands meeting in Hong Kong obtained by <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/secret-recording-caroline-ellison-alameda-sbf-trial\">Cointelegraph<\/a>.<\/p>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/ftx-co-founder-gary-wang-testifies-bankmanfried-trial\/\">Little-known FTX co-founder Gary Wang testifies in Sam Bankman-Fried trial<\/a><\/p>\n<h3 class=\"wp-block-heading\">Fast Facts<\/h3>\n<ul>\n<li>\u201cWe ended up like borrowing a bunch of funds from FTX, which led to FTX having a shortfall in user funds,\u201d Ellison reportedly said to about 15 staff members in the recording.<\/li>\n<\/ul>\n<ul>\n<li>\u201c[FTX] basically always allowed Alameda to borrow users\u2019 funds,\u201d Ellison reportedly said, adding that the customer funds came from both FTX and FTX.US.<\/li>\n<\/ul>\n<ul>\n<li>In the recording, former Alameda software engineer, Christian Drappi, reportedly asked Ellison about when she learned about the misuse of customer funds, but Ellison didn\u2019t reply.<\/li>\n<\/ul>\n<ul>\n<li>Drappi testified on Thursday in the ongoing criminal trial of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/bankman-fried-saudi-crown-prince-ellison-testifies\/\">Sam Bankman-Fr<\/a>ied, following three days of testimony from Ellison. He said Alameda employees had no idea of the company\u2019s use of FTX customer deposits prior to the date of the recording.<\/li>\n<\/ul>\n<ul>\n<li>Gary Wang, co-founder and former chief technology officer of FTX, testified last Friday. Wang said <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/alameda-had-us65-bln-credit-says-ftx-co-founder-gary-wang\/\">Alameda<\/a> had a US$65 billion special credit line to FTX, that would allow the hedge fund to borrow a virtually unlimited amount of customer funds.<\/li>\n<li>FTX filed for bankruptcy in the U.S. on Nov. 11, 2022. Bankman-Fried, the co-founder and former chief executive officer of the exchange has been charged with seven counts of wire fraud and money laundering. His trial began on Oct. 4.<\/li>\n<\/ul>\n<p><strong><em>See related article: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/forkast.news\/crypto-trust-trial-bankman-fried-faces-judgment\/\">Crypto trust on trial: Bankman-Fried faces judgment<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Caroline Allison, the former chief executive officer of Alameda Research, told staff members that the trading firm was using FTX customer funds on Nov. 9, 2022, according to an audio recording of an all-hands meeting in Hong Kong obtained by Cointelegraph. See related article: Little-known FTX co-founder Gary Wang testifies in Sam Bankman-Fried trial Fast [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":171892,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-173482","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173482","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=173482"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173482\/revisions"}],"predecessor-version":[{"id":173483,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/173482\/revisions\/173483"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/171892"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=173482"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=173482"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=173482"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}