Ex-Alameda CEO Ellison Emerges as Central Figure at Bankman-Fried Trial
- Prosecutors say Bankman-Fried told Ellison truth about funds
- Defense lawyer says Ellison failed to hedge Alameda properly
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Caroline Ellison, the former chief executive officer of Alameda Research and Sam Bankman-Fried’s former girlfriend, quickly became the focal point of the FTX founder’s fraud trial in New York.
Prosecutors said Bankman-Fried told her and his closest friends the truth about taking customer funds, even as he “lied to the world” about the safety of his crypto platform. Defense lawyers, meanwhile, said Bankman-Fried relied on Ellison to run Alameda and when he asked her to hedge Alameda amid market uncertainty last year, she didn’t do it.