Ellison Testifies Bankman-Fried Saw Himself as Future President, Directed Her to Commit Fraud at FTX

Ellison testified that Bankman-Fried thought he had a 5% chance of becoming president and valued his messy hair as part of his image.

Ellison said Bankman-Fried had a "utilitarian" philosophy where rules like "don't lie" and "don't steal" didn't apply.

She admitted to committing fraud under Bankman-Fried's direction when she was Alameda CEO.

FTX went bankrupt in Nov 2022 after allegedly misusing billions in customer funds.

Bankman-Fried faces multiple charges for fraud and conspiracy related to FTX's collapse.