The Most Outrageous Confessions by Caroline Ellison in the Case Against SBF
The post The Most Outrageous Confessions by Caroline Ellison in the Case Against SBF appeared on BitcoinEthereumNews.com. TL;DR SBF Trial reveals manipulation of Alameda’s funds, resulting in $10 billion in outstanding loans. Scheme involving frozen Chinese government funds explored, including negotiation, using crypto addresses, and bribery. Ellison exposes attempts to use Saudi Crown Prince’s money, image concerns, doctored balance sheets, and FTX’s insolvency, raising industry regulatory and investor confidence questions. The SBF Trial just got crazier this week, as a lot of unexpected things were thrown into the Jury’s desk, including Chinese government bribes, enticing the Saudi Crown Prince to invest in Alameda, Thai prostitutes and orgies, a scheme to suppress the price of BTC, and much more. That’s a lot to unpack in just a few days. We have piled up the latest and most important developments and updates so you can keep track of everything. We’ll start with Caroline Ellison, SBF’s ex-girlfriend, who took the witness stand twice this week. Here are the most outrageous confessions by Ellison in the case against SBF. SBF Told Ellison to Lie and Mislead Investors Ellison, former Alameda CEO, said that while she had a business executive position at the trading firm, it was Sam who specifically directed her on how to use Alameda’s funds, move capital, and talk to institutions and investors. In other words, Sam was the mastermind backstage. Ellison stated that Sam pressured her and the Alameda team to “borrow as much money as we could,” resulting in $10 billion of outstanding third-party loans by mid-2022, the beginning of the end for FTX/Alameda. When things started falling apart, Ellison said she felt a “sense of relief as I didn’t have to lie anymore.” According to her testimony, Ellison warned Sam about the state of Alameda’s balance sheets and not hedging more on specific high-risk trades in 2022. Allegedly, Ellison was being “too careful” not to tell…
The post The Most Outrageous Confessions by Caroline Ellison in the Case Against SBF appeared on BitcoinEthereumNews.com.
TL;DR SBF Trial reveals manipulation of Alameda’s funds, resulting in $10 billion in outstanding loans. Scheme involving frozen Chinese government funds explored, including negotiation, using crypto addresses, and bribery. Ellison exposes attempts to use Saudi Crown Prince’s money, image concerns, doctored balance sheets, and FTX’s insolvency, raising industry regulatory and investor confidence questions. The SBF Trial just got crazier this week, as a lot of unexpected things were thrown into the Jury’s desk, including Chinese government bribes, enticing the Saudi Crown Prince to invest in Alameda, Thai prostitutes and orgies, a scheme to suppress the price of BTC, and much more. That’s a lot to unpack in just a few days. We have piled up the latest and most important developments and updates so you can keep track of everything. We’ll start with Caroline Ellison, SBF’s ex-girlfriend, who took the witness stand twice this week. Here are the most outrageous confessions by Ellison in the case against SBF. SBF Told Ellison to Lie and Mislead Investors Ellison, former Alameda CEO, said that while she had a business executive position at the trading firm, it was Sam who specifically directed her on how to use Alameda’s funds, move capital, and talk to institutions and investors. In other words, Sam was the mastermind backstage. Ellison stated that Sam pressured her and the Alameda team to “borrow as much money as we could,” resulting in $10 billion of outstanding third-party loans by mid-2022, the beginning of the end for FTX/Alameda. When things started falling apart, Ellison said she felt a “sense of relief as I didn’t have to lie anymore.” According to her testimony, Ellison warned Sam about the state of Alameda’s balance sheets and not hedging more on specific high-risk trades in 2022. Allegedly, Ellison was being “too careful” not to tell…
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