In her first day of her testimony against FTX founder and ex-boyfriend Sam Bankman-Fried, former Alameda Research CEO Caroline Ellison revealed just how closely FTX and its sister trading firm were intertwined, especially when it came to the flurry of “Sam coins” either created or supported by SBF.
Ellison revealed that FTT, the most important of the so-called Sam coins and FTX’s native cryptocurrency, was propped up from the beginning by Alameda Research—and at Bankman-Fried’s direction. Alameda similarly had large holdings of Serum, MAPS, OXY, and Solana.
