Testimony Reveals Allegations of Financial Crimes and Betrayal in Bankrupt Crypto Exchange Trial

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Testimony Reveals Allegations of Financial Crimes and Betrayal in Bankrupt Crypto Exchange Trial

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The trial of Sam Bankman-Fried, the co-founder of bankrupt cryptocurrency exchange FTX, has begun, and his former girlfriend and star witness, Caroline Ellison, has accused him of directing the crimes. Bankman-Fried, who faces multiple criminal charges, including fraud and money-laundering, has pleaded not guilty. Testimonies from Ellison and another co-founder, Gary Wang, shed light on how they allegedly committed financial crimes against FTX customers, resulting in significant losses. Ellison revealed that Bankman-Fried instructed her to use customer deposits to fund investments and loan repayments for his crypto hedge fund. The trial, seen by some as a rush to judgment, continues this week, leaving many questioning what really happened.