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Welcome to the SBF trial, a CoinDesk Podcast Network newsletter bringing you daily insights from inside the courtroom where Sam Bankman-F freed will try to stay out of prison.

Follow the CoinDesk podcast network to get the audio each morning with content from the Coin Desk Regulation

Team and voiced by Wondercraft AI. He's wearing a suit. So began the testimony of Caroline Ellison,

the former business romantic and by her estimation, criminal partner of Sam Bankman-Fried,

whom she identified upon prosecutor's request, albeit in the

vaguest of ways. This bespectacled crypto-trader's unexpected laugh line kicked off perhaps the most

lurid testimony yet of the FTX crypto fraud trial. Caroline had found herself deeply involved in many

of the allegedly criminal decisions she and Sam made,

decisions that ultimately deleted billions of dollars of exchange customers' wealth.

Now, nearly one year after FTX's collapse, Caroline once again has found herself deeply

involved in what's happening. Thing is, she couldn't find Sam. For maybe 30 seconds, Caroline searched the courtroom

for her former paramour. Leaner and sheared, he likely looked different to his longtime colleague

...