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The Latest Breaking News from FTX

Afternoon Update: 1.1 million residents of Gaza told to relocate south; NSW police criticised over protest threat; and New Zealand election countdown

Palestinians fear the Israeli relocation directive could be a precursor to a ground offensive

The Guardian - AU

Inside the meeting where Caroline Ellison came clean to Alameda staff, per a secret recording from an employee who started 3 days earlier

“I’m sure this wasn’t a YOLO thing, right?” Christian Drappi, another Alameda employee, asked the crypto hedge fund's former CEO.

Fortune

Sam Bankman-Fried accused of scoffing and laughing as ex-girlfriend testified

Judge asks Bankman-Fried’s lawyer to ‘have a word with him’ after prosecutors complain of possible intimidation

The Guardian - US

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Sam Bankman-Fried's lawyer struggles in cross-examination of Caroline Ellison, govt's key witness

Sam Bankman-Fried’s defense lawyer has struggled through a meandering cross-examination of the FTX founder’s former girlfriend Thursday, keeping both the judge and the public guessing as to his strategy in countering the testimony of the government’s key witness

The Independent UK

Sam Bankman-Fried laughed, scoffed, and visibly shook his head during Caroline Ellison’s second-day testimony, prosecutor tells judge

The FTX founder’s alleged behavior stands in contrast to how he’s previously reacted to other witnesses.

Fortune

Bankman-Fried’s lawyers cast Caroline Ellison as architect of FTX collapse

Defense team suggests Ellison let heartbreak impede business communications on third day of her testimony

The Guardian - US

Plenty of VCs have made big crypto bets that could actually pan out

FTX made a $500 million bet on AI startup Anthropic—and plenty of other VCs have viable crypto investments.

Fortune

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First Thing: no power, water or fuel for Gaza until hostages are freed, Israel says

IDF says Hamas fighters still trying to cross into Israel. Plus, why are one in seven of us addicted to ultra-processed foods?

The Guardian - UK

Caroline Ellison: ‘Sam was the one’ who caused FTX collapse

In June 2022, amid the broader crypto meltdown, Caroline Ellison and FTX co-founder Sam Bankman-Fried were looking at a massive hole in Alameda Research’s balance sheet.

The Times of India

Caroline Ellison’s latest testimony included utilitarianism, Saudi money, Thai prostitutes, and ended in tears: ‘The worst week of my life’

“Rules like 'don’t lie' or 'don’t steal' didn’t fit in that framework,” the former Alameda CEO said of Sam Bankman-Fried’s utilitarianism.

Fortune

Sam Bankman-Fried’s former CEO and girlfriend testifies that she committed fraud with him

Ms Ellison told the court that she went along with Mr Bankman-Fried’s alleged scheme because ‘Sam told me to’

The Independent UK

She's the star witness against Sam Bankman-Fried. Her testimony was explosive

Caroline Ellison accused Bankman-Fried of being the mastermind behind illegal activity at FTX. Her words carry weight: She worked with him and also once dated him.

WEKU

Caroline Ellison says FTX founder Sam Bankman-Fried corrupted her values so she could lie and steal

Sam Bankman-Fried's former top executive has blamed the FTX founder of corrupting her values so that she could lie and steal and create false balance sheets

The Independent UK

Emails show how Bankman-Fried toyed with Paradigm VCs, who had misgivings but gave him nearly $300 million anyway

Emails surfaced in Sam Bankman-Fried's trial that show how he pressured Paradigm to make a huge investment despite concerns over FTX governance.

Fortune

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Fortune

Alameda propped up the price of ‘Sam coin’ FTT to help secure loans, former CEO Caroline Ellison says

Ellison said in her testimony at SBF’s trial on Tuesday that he told her to use Alameda funds to prop up the price of FTT, FTX's native token.

Fortune

The Sam Bankman-Fried trial could have been much worse for Washington, D.C.

Hundreds of elected officials took campaign contributions from the alleged fraudster prior to the collapse of FTX.

The Guardian - US

Caroline Ellison says she felt ‘relief not to have to lie any more’ after FTX collapse

Former Alameda Research CEO describes in teary testimony how her ex-boyfriend Sam Bankman-Fried led her to commit fraud

Fortune

FTX was a boys’ club. When Caroline Ellison asked Sam Bankman-Fried for equity in the hedge fund she ran, he said ‘it was too complicated’

The former CEO of Alameda Research had only a half-a-percentage-point stake in FTX and no equity in the crypto hedge fund she once led, she testified on Tuesday afternoon.

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Fortune

FTX cofounder Gary Wang says he took out $200 million to $300 million in loans from Alameda Research for investments he couldn’t ‘recall’

Interest payments for the loans became so cumbersome that Wang took out a loan just to pay for them.

The Independent UK

Star witness Caroline Ellison starts testimony at FTX founder Sam Bankman-Fried's trial

The trial of FTX founder Sam Bankman-Fried has taken a star turn as his former fellow top executive and ex-girlfriend Caroline Ellison began testifying against him

Fortune

Sam Bankman-Fried’s friends sang like canaries—now comes his ex-girlfriend Caroline Ellison

The jury will likely hear about alleged corporate fraud—and Caroline’s unhappy relationship with Sam.

The Guardian - US

Sam Bankman-Fried trial: ex-girlfriend says he directed her to commit crimes

Caroline Ellison, who dated Bankman-Fried for years, tells court that he gave the orders to commit $10bn in fraud

Fortune

Will Sam Bankman-Fried take the stand? Legal experts on the pros and cons

The former FTX CEO could use his testimony to solicit empathy from the jury, but it would also leave him open to cross-examination by prosecutors.

Fortune

Prosecutors don’t want Bankman-Fried’s lawyers mentioning his $500 million investment in AI startup Anthropic: ‘It is immaterial’

SDNY prosecutors filed a letter Sunday requesting the judge stop any possible mention of the investment.

Fortune

Everything we learned from week 1 of Sam Bankman-Fried’s trial

Cofounder Gary Wang and venture capitalist Matt Huang have already taken the stand.

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