SHE FLIPPED: Caroline Ellison Will Testify Against SBF On Tuesday

October 6, 2023 9:51 pm Comments

The former CEO pf hedge fund Alameda, Caroline Ellison, will be the government’s star witness against disgraced FTX founder Sam Bankman-Fried.

On Friday, the DOJ confirmed former FTX CTO Gary Wang’s testimony will end on Tuesday and Ellison will take the stand next.

Both Wang and Ellison have already pled guilty but have gotten sweet heart details in exchange of testifying against SBF.

Ellison is expected to take the stand on Tuesday some time after 9:30 AM.

Coin Desk had more details to report:

Caroline Ellison, the former CEO of hedge fund Alameda Research and on-and-off girlfriend of Sam Bankman-Fried, is likely to be the next witness to testify on behalf of the government in its trial against the former crypto mogul, following former FTX executive Gary Wang.

After wrapping up court early Friday, the Department of Justice said FTX co-founder and former Chief Technology Officer Wang’s testimony would conclude on Tuesday and prosecutors expect to call Ellison to the stand next.

Ellison, like Wang, pleaded guilty to multiple fraud charges last December.

The court will not convene on Monday for Columbus Day (Indigenous People’s Day) and will resume on Tuesday at 9:30 a.m. ET.

Here’s what Yahoo reported:

The trial over the collapse of cryptocurrency exchange FTX and its founder Sam Bankman-Fried is underway in New York City.

Witnesses including Marc-Antoine Julliard, an investor who lost $100,000 took the stand as did Adam Yedidia, a close college friend and SBF’s roommate in the $300 million Bahamas compound.

However, the star witness is expected to be former girlfriend Alamada Research CEO Caroline Ellison and what role she might have played in the collapse.

Ellison, 28, was raised by two MIT economists and graduated from Stanford with a degree in mathematics. She met Bankman-Fried at the trading firm Jane Street Capital. Bankman-Fried, like Ellison, was raised by professors and the pair embraced the philosophy of “effective altruism,” which involves making large sums of money to fund philanthropic pursuits that benefit society to the greatest extent possible. The two reportedly were involved in an on-and-off relationship, according to CoinDesk.

When Bankman-Fried left Jane Street in 2017 to found his own hedge fund known as Alameda Research, Ellison joined him shortly thereafter in what she called “a blind leap into the unknown.” She became one of the lead traders at the new firm and said on an FTX-related podcast that joining Alameda was “too cool of an opportunity to pass up” but dealing with capital was “kind of daunting” when she first started at the firm in 2018.

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