Former Alameda Research CEO, Caroline Ellison, testified in the criminal trial of Sam “SBF” Bankman-Fried, revealing that she provided manipulated financial data to Genesis at Bankman-Fried’s direction. Ellison admitted to creating “alternative” balance sheets that concealed Alameda’s borrowing of $10 billion from FTX and $5 billion in loans to executives and affiliated entities. She expressed concern about the potential fallout if this information became public, particularly regarding customer withdrawals from FTX. Ellison acknowledged that her actions were dishonest and wrong. The defense is attempting to portray Ellison as the instigator, while prosecutors consider her a key witness. The trial is expected to conclude in late October, with Bankman-Fried facing multiple charges related to fraud at FTX.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	0
People	Nishad Singh, Caroline Ellison, Gary Wang, Sam Bankman-Fried
Companies	FTX, Genesis, Justice Department, Alameda Research, None
Currencies	FintruX
Securities	None