Former FTX CEO Sam “SBF” Bankman-Fried watched from the defense table as his former business associate and girlfriend, Caroline Ellison, testified at his criminal trial.
According to reports from the courtroom on Oct. 10, Ellison admitted to fraud during her time at Alameda under Bankman-Fried’s direction. The former Alameda CEO reportedly placed the blame for misuse of FTX user funds directly on SBF, claiming he “set up the systems” leading to Alameda taking roughly $14 billion from the exchange.