Ex-Alameda Research CEO, Caroline Ellison, testified in the criminal trial of Sam Bankman-Fried, revealing that they communicated through the messaging app Signal, which has an auto-delete feature. Ellison also claimed that Bankman-Fried instructed her and others not to leave anything in writing. Prosecutors presented evidence showing that Bankman-Fried set the disappearing message time for one week. Ellison further implicated Bankman-Fried in bribery, stating that they spoke in coded terms when their companies provided a bribe to Chinese government officials. However, the judge struck parts of this testimony, as Bankman-Fried is not currently charged with bribery. Ellison also discussed Bankman-Fried’s investments and his attempts to grow the FTX empire. She mentioned his desire to raise money from the Saudi Prince Mohammed bin Salman, take action against the competing crypto exchange Binance, buy Snapchat, invest in news sites, and trade Japanese government bonds. Ellison concluded her testimony by describing a plea deal she reached in late 2022, admitting guilt for making false statements on Twitter. She has not been sentenced yet.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇨🇳 🇧🇸 🇸🇦 🇯🇵
Sentiment	neutral
Relevance Score	0
People	David Ma, Caroline Ellison, Sam Trabucco, Sam Bankman-Fried, Gary Wang
Companies	The Block, FTX, Snapchat, Vox, Signal, Forbes, Binance, Chinese government, Bahamas extradition treaty, Semafor, Alameda Research
Currencies	None
Securities	None