Caroline Ellison Accuses Sam Bankman-Fried of FTX User Fund Misuse in Trial

Caroline Ellison, former CEO of Alameda Research and girlfriend of Sam Bankman-Fried (SBF), testified at SBF's criminal trial, admitting to fraud under his direction. Ellison blamed SBF for the misuse of FTX user funds, claiming he "set up the systems" that led to Alameda taking approximately $14 billion from the exchange. The defense attempted to shift some blame to Ellison during cross-examination. SBF faces seven fraud-related charges and has pleaded not guilty.