new report from new york times Former Alameda Research CEO Caroline Ellison personal diary Before the collapse of Alameda Research and FTX, the crypto empire led by Sam Bankman Freed. The reveal comes ahead of Bankman-Fried’s trial, where Ellison is scheduled to testify as a star witness.
As The New York Times previously reported, Bankman-Fried is facing criminal charges for allegedly stealing billions of dollars from client accounts. The documents, discovered by lawyers involved in Bankman-Fried’s criminal trial, may provide important insight into the dynamics of Bankman-Fried’s business operations and relationship with Ellison.
The documents reveal that Ellison, a central figure in Bankman-Fried’s business empire, had lost confidence and felt overwhelmed in his role at Alameda Research. She expressed her concerns about whether she was suitable for her leadership position and also detailed the strain on her personal life resulting from her toxic relationship with Bankman Freed.
Court documents also reveal a clear pay gap between Mr. Ellison and his partners at FTX and Alameda Research. Despite her high position, she was paid significantly less than her peers. Of the $3.2 billion allocated for payments and loans to her exchange’s founders and key employees, Ellison took just $6 million. This contrasts sharply with her $587 million, which her head of engineering at FTX, Nishad Singh, received, and her $246 million, which the company’s co-founder Gary Wang received. is. The largest compensation of $2.2 billion was paid to Sam Bankman Freed himself. It remains unclear whether Ellison was aware of this apparent pay gap at the time.
The weight of the charges against Bankman-Fried and the bankruptcy of FTX made headlines in the crypto industry. The defunct FTX was once one of the world’s largest cryptocurrency exchanges, but its demise sparked widespread scrutiny and legal repercussions. Ellison’s confessional writing, which has yet to be published, offers a unique insider’s view of the decline of the crypto giant.
The discovery of these private documents could play an important role in future trials. An aide to Bankman-Fried and a key figure in his business, Ellison’s personal and professional insights may shed light on some of the unanswered questions surrounding the FTX demise.
An article personally written by Caroline Ellison a few months before Alameda, the FTX collapse uncovered in the discovery process, first appeared on CryptoSlate.