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The Journal.

The Trial of Crypto’s Golden Boy: Caroline Ellison

The Journal.

The Wall Street Journal

Business News, Daily News, News

4.25.8K Ratings

🗓️ 12 October 2023

⏱️ 14 minutes

🧾️ Download transcript

Summary

Caroline Ellison, the former CEO of Alameda, took the stand for a second day Wednesday. Producer Rachel Humphreys and WSJ’s Caitlin Ostroff discuss Ellison’s testimony and what it revealed about alleged bribes to Chinese officials, misleading statements to investors, and the final days of FTX. 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

Transcript

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0:00.0

Day 2 of Carolyn Ellison's Test Me Formacy O of Alameda, she's been on the witness stand

0:14.6

all day being questioned by the prosecution and we had tears at one point.

0:20.5

Yeah, at one point she was recalling pretty much the week that Alameda and FTX collapsed

0:26.7

and she started crying, someone had to hand her a box of tissues on the stand.

0:31.9

And apart from that, we also had her testifying about Sam Bankman-free directing her to

0:37.9

bribe Chinese officials. She testified that Sam Bankman-free blamed her for Alameda's losses

0:44.0

and she testified to Bankman-free directing her to lie, to investors and to lie on social media

0:49.3

about the true state of affairs at Alameda and FTX.

0:54.4

Yeah, there was a lot today of her kind of outlining what Bankman-free knew about Alameda's

1:01.4

financial positions, what he told her to do in terms of loan repayments, you know, him

1:06.8

allegedly trying to put blame on her. Yeah, it was a lot, a lot to take in.

1:12.5

How would you say this day has gone for Sam Bankman-free in his defense team?

1:16.8

That's something that I think we're really still trying to figure out. There wasn't really a

1:19.8

main smoking gun. There wasn't necessarily a message from Bankman-free that saying, you know,

1:26.3

I know this is all wrong but like go ahead and do it. But there was a lot of really major

1:32.0

testimony from Ellison on all the different points she said happened in this journey.

1:40.9

From the journal, this is the child of crypto's Gordon Boy. I'm Caitlin Astroff and I Rachel Hempfries.

1:50.8

Coming up, Caroline Ellison's side of the story.

2:15.2

I'm worried actually this episode we're going to bury the lead, Caitlin.

2:19.1

What is? Well, that you've bought enough coffees that you now have earned a free coffee at the

2:24.6

court cafeteria. I'm very excited to use that. I have like three punch cards at this point too.

2:30.6

Yeah. So it's the second day of Caroline Ellison's testimony. She is the government's

...

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