While much of the jury’s attention has been consumed by alternative balance sheets and to-do lists throughout Caroline Ellison’s testimony, a tissue drawn by the former Alameda Research CEO on Wednesday afternoon represented a break from meticulous answers throughout her time on the stand.

“I was in sort of a constant state of dread,” she testified.

Ellison is the government’s star witness in its case against Sam Bankman-Fried, founder and former CEO of the once-dominant cryptocurrency exchange FTX. Bankman-Fried faces seven criminal charges related to the collapse of the exchange. He is alleged to have used billions in customer funds to cover up losses incurred by Alameda,  a trading desk he also founded in 2019.

“I knew that we would have to take the money from our FTX line of credit and I knew that that was money that could be called at any time,” Ellision testified today. “And every day, I was worrying about the possibility of customer withdrawals from FTX and the possibility of this getting out and what would happen to people that would be hurt by that.”

She started crying and her voice quivered while talking about the emotional weight lifted once it was clear that Alameda and FTX would not survive a fatal flurry of customer withdrawals last November. Ellison testified that Bankman-Fried, her boss and on-again-off-again boyfriend, directed her to use FTX customer funds to plug holes in Alameda’s balance sheet. The alleged

Go to Source to See Full Article
Author: André Beganski

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details