The founder of bankrupt crypto exchange FTX Sam Bankman-Fried is facing his ex-girlfriend in court.
On Tuesday, Caroline Ellison began testifying against the former crypto billionaire, who is on trial accused of stealing billions from customers.
As the former head of Alameda Research, Mr Bankman-Fried’s crypto trading firm, the 28-year-old is alleged to have played a pivotal role in the scheme.
As the former head of Alameda Research, Mr Bankman-Fried’s crypto trading firm, the 28-year-old is alleged to have played a pivotal role in the scheme.
Mr Bankman-Fried has denied all the charges against him.
Ms Ellison took the stand shortly after 12:30 local time (16:30 GMT) and told the court that Alameda ultimately took about $14bn (£11.4bn) from FTX customers, using it for investments and repaying lenders.
Alameda was able to return some of that money to the exchange, she added.
Ms Ellison’s arrival on the stand was greeted with nervous laughter, especially after she struggled for a long moment to find Mr Bankman-Fried in the courtroom.
A wide range of people, from former FTX customers to casual observers, has been anticipating her first-hand account of what led the once powerful exchange to collapse last year, turning Ms Ellison into a star witness.
The founder of bankrupt crypto exchange FTX Sam Bankman-Fried is facing his ex-girlfriend in court.
As the former head of Alameda Research, Mr Bankman-Fried’s crypto trading firm, the 28-year-old is alleged to have played a pivotal role in the scheme.
On Tuesday, Caroline Ellison began testifying against the former crypto billionaire, who is on trial accused of stealing billions from customers.
Mr Bankman-Fried has denied all the charges against him.
As the former head of Alameda Research, Mr Bankman-Fried’s crypto trading firm, the 28-year-old is alleged to have played a pivotal role in the scheme.
As the former head of Alameda Research, Mr Bankman-Fried’s crypto trading firm, the 28-year-old is alleged to have played a pivotal role in the scheme.
Mr Bankman-Fried has denied all the charges against him.
Ms Ellison took the stand shortly after 12:30 local time (16:30 GMT) and told the court that Alameda ultimately took about $14bn (£11.4bn) from FTX customers, using it for investments and repaying lenders.
Alameda was able to return some of that money to the exchange, she added.
Ms Ellison’s arrival on the stand was greeted with nervous laughter, especially after she struggled for a long moment to find Mr Bankman-Fried in the courtroom.
A wide range of people, from former FTX customers to casual observers, has been anticipating her first-hand account of what led the once powerful exchange to collapse last year, turning Ms Ellison into a star witness.
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