Key Witness Caroline Ellison Testifies in SBF's Criminal Trial

Caroline Ellison, former CEO of Alameda Research and ex-girlfriend of Sam Bankman-Fried, testified in the criminal trial against Bankman-Fried. Ellison stated that she conspired with Bankman-Fried and others to defraud customers and investors of FTX, Bankman-Fried's cryptocurrency exchange. She admitted to using customer funds for personal investments and to repay loans. Bankman-Fried is facing charges of wire fraud and money laundering and has pleaded not guilty. Ellison's testimony is expected to be damaging to Bankman-Fried's case due to their close relationship and her firsthand knowledge of the alleged fraud.