FTX Latest: Ellison Fights Back Tears Describing Her Worst Week
- Ellison takes witness stand for second day at SBF trial
- Ellison discusses mounting loans to Alameda Research
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Alameda Research co-Chief Executive Officer Caroline Ellison took the stand for a second day on Wednesday in the trial of Sam Bankman-Fried, co-founder of crypto exchange FTX. Ellison, who also had an on-and-off romantic relationship with Bankman-Fried, is the most important of the government’s three star witnesses.
In her first day of testimony Tuesday, Ellison detailed how Bankman-Fried directed her to orchestrate a massive fraud at FTX and Alameda. Concurring with FTX co-founder Gary Wang, who also was a government witness, Ellison said Bankman-Fried was ultimately responsible for the misuse of FTX customer funds by both companies.