Last week, Sam Bankman-Fried’s criminal trial heated up as his ex-girlfriend, Caroline Ellison, took the stand in what was the most-anticipated, and arguably most explosive, testimony of the trial thus far.
Ellison—the former CEO of Bankman-Fried’s hedge fund, who like other top FTX lieutenants Gary Wang and Nishad Singh took a plea deal with the government—testified on both Tuesday and Wednesday, revealing that Alameda Research had propped up FTX’s native cryptocurrency, FTT, from the beginning and at Bankman-Fried’s direction.
