According to a transcript of the appeals case, Caroline Ellison, the former president of Alameda Research, testified in New York federal court that she realized she was doing something inappropriate. He deliberately misled lenders about the money the company borrowed from the first cryptocurrency exchange FTX. Adapted by Caroline Ellison
According to a transcript reported by Bloomberg, Elison said he knew that Alameda had received a loan from FTX.com, a cryptocurrency exchange owned by Mr. Bankman-Fried is in control, from 2019 to 2022. He went on to say that this arrangement gave Alameda exposure. on an unlimited line of credit that cannot post collateral, maintain negative balances or incur margin requirements as part of the FTX liquidation process. .com. Alameda bank borrowed money from FTX
Sam Bankman-Fried, the former CEO of FTX, conspired with Ellison to cover up the arrangement by fabricating false financial statements, according to Ellison, who also said he knew of the Alameda bank with bad balances. indicate that the company borrows money from FTX. customers.
Last week, Ellison and former FTX CTO and co-founder Gary Wang pleaded guilty to multiple misdemeanors related to the collapse of Alameda and FTX. A judge has announced that Bankman-Fried, who was extradited from the Bahamas to the United States, will be released on $250 bail pending trial when he appears in federal court in New York on Thursday.