"Caroline Ellison's Explosive Testimony Shakes Sam Bankman-Fried's Trial"

Caroline Ellison, former co-chief executive of Alameda Research, faced cross-examination at the trial of Sam Bankman-Fried, the former CEO of FTX, who is facing fraud charges over the collapse of the bankrupt cryptocurrency exchange. Ellison testified that the hedge fund took $10 billion in FTX customer funds to repay debts and make investments. Bankman-Fried's attorney questioned Ellison about the internal account FTX used to denote customer funds. Prosecutors allege that Bankman-Fried plundered billions in customer funds to prop up Alameda, buy real estate, and donate to political campaigns. Ellison is one of three former members of Bankman-Fried's inner circle who have pleaded guilty to fraud charges and agreed to cooperate with prosecutors.