Sam Bankman-Fried's Trial Exposes Alleged Misconduct and Manipulation in Cryptocurrency Industry
Former Alameda CEO Caroline Ellison has alleged that Sam Bankman-Fried, the CEO of FTX cryptocurrency exchange, "directed" the company to take customer money. Ellison's claims come as part of a lawsuit filed against Bankman-Fried and FTX, accusing them of market manipulation and fraud. The lawsuit alleges that Bankman-Fried instructed Alameda to use customer funds to manipulate the market and profit from it. FTX has denied the allegations, stating that they are without merit.