FTX's Caroline Ellison to Testify Against Sam Bankman-Fried as Star Witness After Striking Plea Deal

Caroline Ellison, FTX's former CEO, is expected to testify as a star witness against Sam Bankman-Fried. She pleaded guilty to fraud charges and agreed to cooperate.

Prosecutors argue Ellison was key to Bankman-Fried's alleged crimes, but defense says she failed to prepare Alameda for a crypto downturn.

As a witness, Ellison can provide insider knowledge of FTX's operations and Bankman-Fried's conduct and alleged lies.

Ellison has detailed records of FTX and Alameda's financial health, risky bets, and the scramble to repay creditors.

In a recorded meeting, Ellison admitted to employees that customer funds were improperly used to repay Alameda's debts, implicating Bankman-Fried.