The second week of the Sam “SBF” Bankman-Fried FTX fraud trial is set to begin on Monday, Oct. 9, with a focus on the testimony of Caroline Ellison, the former romantic partner of SBF and CEO of FTX-tied Alameda Research. Ellison is expected to provide details about the movement of customer funds between the two companies. She is anticipated to highlight a November 2022 meeting where she admitted to using customer funds to repay creditors, with Bankman-Fried’s approval. In December 2022, Ellison and former FTX executive Gary Wang pleaded guilty for their roles in the alleged fraud that led to the collapse of FTX. Wang testified on Oct. 5, stating that with SBF’s help, Alameda was able to withdraw unlimited funds. He also mentioned that Bankman-Fried made the final decisions in any disagreements. Bankman-Fried has been charged with seven counts of conspiracy and fraud related to the fall of FTX, to which he has pleaded not guilty. The trial’s first week focused on the disappearance of $8 billion of FTX customer funds and included arguments from both the prosecution and defense, as well as testimony from Adam Yedidia, a close friend of Bankman-Fried and former FTX developer.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	6
People	Adam Yedidia, Caroline Ellison, Sam Bankman-Fried, Gary Wang
Companies	FTX, Alameda Research, Cointelegraph, Binance
Currencies	None
Securities	None