Ellison Testifies on Secret Relationship with Bankman-Fried, Misusing Customer Funds and Losing Billions

Caroline Ellison, Sam Bankman-Fried's ex-girlfriend, testified about their sexual relationship, his presidential ambitions, and losing billions together.

Ellison said Bankman-Fried paid her a $200k salary and $20 million bonus in 2021 when she was CEO of Alameda Research.

Ellison testified she and Bankman-Fried improperly used FTX customer funds for Alameda's risky bets, causing both companies to collapse.

Ellison said while dating, Bankman-Fried was also her boss at Alameda, which created "awkward situations."

Ellison testified their relationship was secret at first but went public when they lived together in 2021, though they didn't discuss it openly.