Day 6 of the SBF trial was marked by emotional testimony from Caroline Ellison, who shed tears as she detailed the financial chaos within Alameda and FTX. She also recounted dramatic incidents such as an alleged bribe by Alameda to a Chinese government official, creating accounts using the IDs of Thai prostitutes, and an attempt to raise money by selling FTX shares to a Saudi prince.
Ellison discussed the financial turmoil that began with the crypto market crash and how it led to desperate actions, allegedly directed by SBF. She revealed the manipulation of balance sheets, the use of FTX customer funds for risky investments, and the ethical compromises made to keep Alameda afloat.
The day also delved into the secretive culture within Alameda and FTX, highlighting the use of disappearing messages on Signal for sensitive discussions, and what was really happening behind the scenes as FTX began to implode.
Catch up on Unchained’s previous coverage:
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The Chopping Block: Are We Back? The 'Low IQ' Response to the Potential Spot Bitcoin ETF - Ep. 561
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SBF Trial, Day 12: Former FTX General Counsel Speaks Out Against SBF
SBF Trial, Day 11: How Alameda Got FTX Into a $9 Billion Hole
SBF Trial, Day 10: Defense Tries But Fails to Undercut Nishad Singh's Credibility
SBF Trial, Day 9: Nishad Singh Describes Former FTX CEO as a Bully and Big Spender
Why These Lawyers Say It's Over for SBF--But His Only Hail Mary Is to Testify - Ep. 557
SBF Trial, Day 8: Former BlockFi CEO Adds Credibility to Fraud Charges
How Heated Sidebars During the SBF Trial Could Impact the Jury’s Decision - Ep. 556
SBF Trial, Day 7: In SBF Trial, Did the Defense Lose Its Opportunity With the Star Witness?
The Chopping Block: Gabriel Shapiro on Why Sam Bankman-Fried May Be a ‘Sociopath’ - Ep. 555
SBF Trial, Day 5: SBF's Defense Finally Found Its Legs, But Can It Counter Caroline Ellison?
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SBF Trial, Day 4: SBF's Lawyers Annoy Judge Kaplan, While Wang Reveals Alameda’s Special Privileges
Did Sam Bankman-Fried Have Intent to Defraud FTX Investors? - Ep. 553
SBF Trial, Day 3: Why a True Believer in FTX Flipped Once He Learned One Fact
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