Caroline Ellison, the ex-girlfriend of crypto entrepreneur Sam Bankman-Fried, testified in a Manhattan federal court regarding his trial on criminal fraud charges related to the disappearance of $8 billion from his cryptocurrency exchange, FTX. Ellison accused Bankman-Fried of directing her to commit crimes during her time as the CEO of Alameda Research, a crypto hedge fund associated with FTX. She pleaded guilty to her role in the scheme and is cooperating with prosecutors. Ellison also mentioned that their relationship ended because Bankman-Fried was emotionally distant and not attentive, despite the pair living together in a Bahamas penthouse.
During her testimony, Ellison confirmed that Bankman-Fried’s involvement in the alleged scheme, stating that he directed her to commit crimes related to Alameda’s actions. She described the dynamics of their relationship, where Bankman-Fried remained involved in major decisions even after she became the sole CEO of Alameda. Ellison revealed that Bankman-Fried did not increase her base salary but gave her a $20 million bonus during her time as CEO. She also noted that the former crypto titan denied her request to own a portion of Alameda, among other issues. Bankman-Fried faces criminal charges for his alleged involvement in the cryptocurrency fraud.