Caroline Ellison, former CEO of Alameda Research and SBF's ex-partner, took the stand to reveal the alleged financial mismanagement at Alameda and FTX, which she claimed was at Bankman-Fried’s direction. The cross examination of Gary Wang finally began to show how SBF’s lawyers plan to defend him, though Wang largely appeared to be a yes man who simply trusted and followed his friend and co-founder.
Ellison's revelations included Alameda's hidden trading of FTT to prop up its price, her warnings to SBF about Alameda’s inability to pay back its lenders if he put billions more into venture investments, and his views on risk and “expected value.” For instance, she claimed he said if, with a coin toss came up tails and would mean Earth’s destruction, he would toss the coin if there it was twice as likely that it would more than double prosperity on Earth. However, her testimony seemed designed to preemptively rebut the defense’s potential argument that Alameda needed to borrow customer funds because she had not hedged.
Catch up on Unchained’s previous coverage:
Learn more about your ad choices. Visit megaphone.fm/adchoices
SBF Trial, Day 13: Before Judge, Former FTX CEO Sam Bankman-Fried Gives Few Straight Answers
The Chopping Block: Are We Back? The 'Low IQ' Response to the Potential Spot Bitcoin ETF - Ep. 561
Why a Spot Bitcoin ETF Will Probably Launch No Later Than January 10 - Ep. 560
The Chopping Block: A Rough Week 3 for SBF, DCG Troubles, Fees at Uniswap - Ep. 559
Another Bad Week for Sam Bankman-Fried in His Criminal Trial - Ep. 558
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 6: Caroline Ellison Recalls 'The Worst Week of My Life
SBF’s Lawyers Could Be Annoying the Judge. How Might That Impact the Trial? - Ep. 554
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
Create your
podcast in
minutes
It is Free
Pharmacy Podcast Network
Sarah Westall - Business Game Changers
Børsen Morgenbriefing
Startitup podcasty
Wall Street Breakfast