FTX Co-Founder Admits to Improperly Taking Customer Funds in Leaked Meeting Recording
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Caroline Ellison held an all-hands meeting with Alameda employees and admitted taking FTX customer funds.
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The meeting was recorded and clips were played at Sam Bankman-Fried's criminal trial.
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Ellison said Alameda didn't have enough liquidity and had taken FTX customer funds without permission.
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When asked, Ellison admitted she, SBF, and others knew Alameda was improperly taking customer money.
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One employee, Christian Drappi, quit within 24 hours of the meeting after being "utterly shocked" by Ellison's admissions.