The Trial of Crypto’s Golden Boy: Caroline Ellison Speaks

The Journal.

The Wall Street Journal

Business News, Daily News, News

4.2 • 5.8K Ratings

🗓️ 11 October 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Caroline Ellison met Sam Bankman-Fried trading at Jane Street. The two would go on to have a close professional and personal relationship as his crypto empire grew and then eventually imploded. Now, she has pleaded guilty and is testifying against him. Producer Rachel Humphreys and WSJ’s Caitlin Ostroff discuss her testimony and how the government is using it to build their case against Bankman-Fried. Further Reading: - What’s Happening Today at the Sam Bankman-Fried Trial Further Listening: - The Trial of Crypto’s Golden Boy Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:00.0	Tuesday morning, day five of this trial, Caitlin, and when we arrived at 6.45 AM, there was
0:16.4	already a very long line staking around the courthouse, tons of reporters and people interested
0:24.9	in this case, they were all there to see the star witness in this trial, Caroline Ellison.
0:31.0	Yeah, and Ellison is the former CEO of Alameda Research, which was the trading firm that
0:36.6	Bankman Fade founded, and she was there for key meetings. She was part of his so-called
0:41.2	inner circle. And so a lot of people, I think a lot more than we expected, more than a hundred
0:46.9	were really interested here, what she had to say.
0:50.7	And after FTX collapse last year, she pleaded guilty to seven criminal counts. And on
0:56.5	Tuesday, she arrived at court in sunglasses and a baseball cap. And just before the court
1:01.6	broke for lunch, she took the stand and said that Bankman Fade directed her to commit crimes.
1:08.9	We've yet to hear Bankman Fade's side, ask her any questions, but we've already heard
1:13.2	some really revealing testimony.
1:19.9	From the journal, this is the trial of Crypto's Gordon Boy. I'm Kate Onastoff, and I'm Rachel
1:25.0	Humphreys.
1:30.0	Coming up, Caroline Ellison's testimony begins.
1:36.0	Straight down things, straight down things, straight down things, straight down things,
1:58.1	straight down things, straight down things, straight down things, straight down things.
2:06.2	There's a whole range of strings and things, called strings and things, including cheese
2:10.4	strings, yollies, and cheese shapes. Find them all in the cheese and yocatyle.
2:14.9	Strings and things.
2:19.5	Kate, and I don't know about you, but it's standing in that very long line this morning
2:28.7	and then scrambling to get a seat to watch proceedings. There was some elbowing going on
	...

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