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/biz/ - Business & Finance


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56338421 No.56338421 [Reply] [Original]

>Caroline Ellison is arguably the star witness in the government’s case against Sam Bankman-Fried, the former CEO of the bankrupt crypto exchange FTX who’s on trial for fraud. And what became apparent during her testimony on Tuesday is that, compared with three other key lieutenants who’ve all turned on their former boss, she took similar risks for far smaller rewards.

>Ellison, who testified that she conspired with Bankman-Fried “to commit these crimes,” is the former CEO of Alameda Research, a crypto hedge fund Bankman-Fried also owned. She was given no equity in Alameda and only a half-a-percentage-point stake in FTX. When she broached a conversation with him over receiving equity in the hedge fund, he was “initially receptive” but later told her “it was too complicated.”

>Gary Wang, cofounder and the former CTO of FTX, had a 16% stake in FTX and a 10% stake in Alameda. Nishad Singh, former director of engineering at FTX, owned 5% of the company, according to Michael Lewis’s recent SBF tell-all. And Bankman-Fried owned the lion’s share—90% of Alameda and more than half of FTX, per Lewis.

>Moreover, while the three siphoned billions of dollars in personal loans out of Alameda—what prosecutor Danielle Sasson called “loans to insiders”—Ellison took out a comparatively minuscule $1.3 million to invest in a startup, she said on Tuesday. Even Ryan Salame, co-chief of FTX’s Bahamas subsidiary whom past witnesses don’t usually cite as part of the FTX inner circle, took out $35 million to donate to Republican political campaigns.

>> No.56338430

>Ellison was, by most measures, handsomely compensated during her time working for Bankman Fried, whom she also dated on and off. She had a base salary of $200,000 in addition to large bonuses, including a $20 million haul in 2021, half of which she said she invested in a startup. (Prosecutors later told the judge that she personally invested in AI darling Anthropic, but it was unclear whether that was in reference to the $10 million she mentioned as part of her prior testimony.)

>However, her comparative lack of compensation with those in the boys’ club of Bankman Fried, Singh, and Wang highlights a continuing theme throughout her testimony: how she, the only woman in Bankman Fried’s inner circle, answered to him and his lieutenants, not the other way around.

>> No.56338434

>Ellison took out a comparatively minuscule $1.3 million to invest in a startup
i hope she doesnt get killed. what a humble and beautiful soul

>> No.56338439

>Bankman-Fried has previously laid the blame for the collapse of FTX at Ellison’s feet, saying in writings published by the New York Times that she didn’t appropriately hedge against risk. "She continually avoided talking about risk management - dodging my suggestions - until it was too late," he wrote.

>> No.56338443

>>56338421
>Ellison, though, repeatedly emphasized in her testimony that it was Bankman-Fried who told her to ignore the considerable risks Alameda was running. In late 2021, for example, she told Bankman-Fried why it would be incredibly risky for Alameda to take out $3 billion in loans to invest in startups—it would further imbalance the hedge fund’s balance sheet. Even after she raised her concerns, Bankman-Fried said that he planned to go ahead and take out billions of dollars in loans, unveiling FTX Ventures in January 2022.

>At one point, prosecutors asked Ellison about her ex’s appetite for risk. If there were a 50% chance that a coin flip would lead to the world being “twice as good,” she said, “he’d be happy to flip a coin if it turned up tails and the world was destroyed.”

Source:
https://fortune.com/crypto/2023/10/10/caroline-ellison-ftx-sam-bankman-fried-sbf-equity-personal-loans-gary-wang-nishad-singh-ryan-salame/

>> No.56338458

SEX WITH CHIPMUNK

>> No.56338473

>>56338443
So all you’ve said is she took $21million dollars of users money knowingly.
That Sam wasn’t involved and she was running FTX as the head employee. Not as the owner who was operating another company that she was seen as too much liability to involve in its structure or its ownership.

Funny that. No she ran FTX.
Sam went to Almaeda to ensure she couldn’t take everything.
Sam payed out all funds on hands to the customers of Bahamas so they didn’t extradite him.
Fuck them all. She’s just as bad. Trying to spin her politics and business ambitions is just as bad as his.

She’s shown no remorse nor even admired she’s done wrong.

This isn’t taking responsibility. Sentencing should be reserved and increased until they accept their punishment for doing wrong.

Sadly.. the truth is what they did was industry standard practices.

If you believe she wasn’t in the boys club.
If you believe partners don’t share information.
If you believe she knew nothing. Then shouldn’t she be charged for that anyways??

He’s scum. She’s scum. We could do with more draining.

>> No.56338475

>>56338421
>>56338430
>>56338434
>>56338439
>>56338443
>>56338458
>>56338473

She was never cute or hot or whatever she was a literal 2/10

>> No.56339275
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56339275

>>56338421
stop spamming this goblin shit and buy donut you useless shit!

>> No.56339303
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56339303

>>56338421
>only 29 years old
jesus

>> No.56339324
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56339324

where's the sextape?
still waiting

>> No.56341139

She will give you high iq children who will grow up to be the future leaders of mankind.
Marrying a jewess is like buying btc for $1 for your bloodline.

>> No.56342207
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56342207

>>56338421