"Ex-Girlfriend's Testimony: Crucial Turning Point in FTX Trial"

Caroline Ellison, a former deputy and romantic partner of Sam Bankman-Fried, testified in court that Bankman-Fried "directed" her to steal billions from customers of his cryptocurrency exchange, FTX. Ellison ran day-to-day operations for Alameda Research, a crypto trading firm controlled by Bankman-Fried, and stated that Alameda took around $14 billion from FTX customers to repay debts. She also claimed that Bankman-Fried set up systems that allowed Alameda to tap into FTX customer deposits. Ellison is one of several members of Bankman-Fried's inner circle who have pleaded guilty to criminal charges and agreed to testify against him. Bankman-Fried has pleaded not guilty to all charges.