Ellison Testifies Bankman-Fried Approved Using FTX Customer Funds to Repay Alameda Debts

Caroline Ellison said in a recording that Sam Bankman-Fried approved using FTX customer funds to pay off loans taken by Alameda Research.

Ellison testified over 3 days that Alameda took $10 billion in FTX customer funds to repay debts and invest.

Defense lawyer questioned if Ellison learned of FTX probe before or after the Alameda meeting to undermine her credibility.

Ellison testified she ran Alameda but deferred to Bankman-Fried's judgment.

Two other former Bankman-Fried associates, Gary Wang and Nishad Singh, are also cooperating witnesses expected to testify.