FTX is one of the issues that the cryptocurrency community has been talking about since last year. We have readers who remember; FTX, which was once one of the largest stock exchanges in the world, went bankrupt due to the steps taken by its boss Sam Bankman-Fried. Sam Bankman-Fried, who escaped for a while, was eventually caught and sent behind bars. However, this does not mean that the process is over. The latest news reveals that the FTX CEO has dirty dealings.
One of the names whose testimony was consulted within the scope of the case in the USA is Caroline Ellison, the CEO of Alameda Research, a company that was understood to have a close relationship with FTX and went bankrupt together with FTX. Ellison, also known as Sam Bankman-Fried’s ex-girlfriend, explained one by one what the FTX CEO did. The statements made are at a level that we can call terrible. It turns out that Sam Bankman-Fried was lobbying for Binance in the background and selling assets belonging to his customers to keep the price of Bitcoin (BTC) low…
There isn’t a single person left that they haven’t lied to.
In her statement to the court, Caroline Ellison says that Sam Bankman-Fried can lie very easily and that she was also affected by this. However, Ellison never thought he would be a part of this process. Alameda Research CEO stated that they were doing business “as they wanted”, so to speak, and that they were lying to everyone to save their business. It had come to such a point that even the balance sheet records of the companies were tampered with and sent to customers…
Not just these. Caroline Ellison also admitted that they stole customers’ money to prevent their lies from being discovered. Let’s explain it this way; FTX was an exchange and investors were depositing money into this exchange. Alameda Research was a company that gave loans through cryptocurrencies. Alameda Research customers also had the right to withdraw their money at any time. Ellison was selling crypto assets belonging to FTX clients to pay Alameda Research clients. Of course, FTX users were not even aware of such a thing.
They sold the money in FTX users’ accounts to keep BTC below 20 thousand dollars!
One of the most important issues in the statement given by the CEO of Alameda Research was about the price of Bitcoin. Caroline Ellison admitted that Sam Bankman-Fried did not want the BTC price to rise above 20 thousand dollars, so they constantly sold BTC. The point is this: The BTC that was sold was not Sam Bankman-Fried’s or FTX’s. BTCs directly in FTX users’ accounts were being sold.
He made plans to collapse Binance!
One of the striking confessions about Sam Bankman-Fried is about Binance, the world’s largest cryptocurrency exchange. Caroline Ellison gave the court Sam Bankman-Fried’s personal “to do list.” One of the items on this list was collaborating with government officials and bringing down Binance. In fact, we can say that this was successful. Because there is currently a lawsuit between Binance and the US Securities and Exchange Commission (SEC)…
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