“Saudi Crown Prince FTX Ownership
The post “Saudi Crown Prince FTX Ownership appeared on BitcoinEthereumNews.com. Amid the ongoing legal saga surrounding Sam Bankman-Fried’s alleged wrongdoings and the collapse of FTX, the former CEO of Alameda Research, Caroline Ellison, delivered her testimony during the sixth day of the trial, delving into the intricate web of potential investments leading up to FTX’s financial turmoil. In a courtroom revelation that had spectators on the edge of their seats, Caroline Ellison claimed that Sam “SBF” Bankman-Fried had pursued a daring strategy to secure equity for FTX by entertaining the notion of an investment from none other than Saudi Crown Prince Mohammed bin Salman, often referred to as MBS. This audacious plan was discussed as they explored methods of mitigating risks associated with Alameda’s investments back in the tumultuous year of 2022. According to Ellison, Bankman-Fried firmly believed that MBS could be a significant investor in the crypto exchange, a belief that ultimately led to profound consequences for FTX as it tragically crumbled in November. Remarkably, the potential investment from MBS had even made its way into the annals of Caroline Ellison’s digital diary, aptly named “Things Sam is Freaking Out About.” This intriguing document, slated for presentation during the trial, included not only the ambition of “raising funds from MBS” but also the cryptic agenda of turning regulatory authorities against the crypto behemoth, Binance. Mohammed bin Salman, a figure of immense wealth, wielding the dual roles of crown prince and prime minister of Saudi Arabia, had previously ventured into the world of blockchain gaming through the nation’s formidable sovereign wealth fund. Yet, his notoriety was also shadowed by allegations of involvement in the 2018 assassination of Washington Post journalist Jamal Khashoggi at the Saudi consulate in Istanbul. As per a report from the reputable news outlet, Puck, it was disclosed that Bankman-Fried had a rendezvous with MBS on Saudi…
The post “Saudi Crown Prince FTX Ownership appeared on BitcoinEthereumNews.com.
Amid the ongoing legal saga surrounding Sam Bankman-Fried’s alleged wrongdoings and the collapse of FTX, the former CEO of Alameda Research, Caroline Ellison, delivered her testimony during the sixth day of the trial, delving into the intricate web of potential investments leading up to FTX’s financial turmoil. In a courtroom revelation that had spectators on the edge of their seats, Caroline Ellison claimed that Sam “SBF” Bankman-Fried had pursued a daring strategy to secure equity for FTX by entertaining the notion of an investment from none other than Saudi Crown Prince Mohammed bin Salman, often referred to as MBS. This audacious plan was discussed as they explored methods of mitigating risks associated with Alameda’s investments back in the tumultuous year of 2022. According to Ellison, Bankman-Fried firmly believed that MBS could be a significant investor in the crypto exchange, a belief that ultimately led to profound consequences for FTX as it tragically crumbled in November. Remarkably, the potential investment from MBS had even made its way into the annals of Caroline Ellison’s digital diary, aptly named “Things Sam is Freaking Out About.” This intriguing document, slated for presentation during the trial, included not only the ambition of “raising funds from MBS” but also the cryptic agenda of turning regulatory authorities against the crypto behemoth, Binance. Mohammed bin Salman, a figure of immense wealth, wielding the dual roles of crown prince and prime minister of Saudi Arabia, had previously ventured into the world of blockchain gaming through the nation’s formidable sovereign wealth fund. Yet, his notoriety was also shadowed by allegations of involvement in the 2018 assassination of Washington Post journalist Jamal Khashoggi at the Saudi consulate in Istanbul. As per a report from the reputable news outlet, Puck, it was disclosed that Bankman-Fried had a rendezvous with MBS on Saudi…
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