The key government witness repeatedly referred to feeling a “constant state of dread” in the preceding months as she realized the extent of the wrongdoing at FTX and Alameda.
October 11, 2023 at 05:49 PM
5 minute read
Former Alameda Research CEO Caroline Ellison became emotional on the witness stand on her second day of testimony Wednesday as she described the intense week leading up to Nov. 11, 2022, when cryptocurrency exchange FTX and Alameda, a crypto hedge fund, each declared bankruptcy.
Ellison was testifying as a cooperating witness in the trial of her former boyfriend, FTX CEO Sam Bankman-Fried, who founded Alameda and FTX.
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Caroline Ellison, former chief executive officer of Alameda Research LLC, exits court in New York, US, on Wednesday, Oct. 11, 2023. Jurors in the fraud trial of FTX co-founder Sam Bankman-Fried heard his ex-girlfriend Caroline Ellison explain how he allegedly arranged for billions of dollars in customer funds to back risky investments that led to the collapse of the cryptocurrency exchange. Photographer: Stephanie Keith/Bloomberg
