Ellison Testifies Bankman-Fried Approved Using FTX Customer Funds to Repay Alameda Debts
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Caroline Ellison said in a recording that Sam Bankman-Fried approved using FTX customer funds to pay off loans taken by Alameda Research.
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Ellison testified over 3 days that Alameda took $10 billion in FTX customer funds to repay debts and invest.
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Defense lawyer questioned if Ellison learned of FTX probe before or after the Alameda meeting to undermine her credibility.
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Ellison testified she ran Alameda but deferred to Bankman-Fried's judgment.
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Two other former Bankman-Fried associates, Gary Wang and Nishad Singh, are also cooperating witnesses expected to testify.
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