1 year ago
New reporting from The New York Times has revealed that Caroline Ellison, the erstwhile CEO of Alameda Research, kept private diaries earlier the illness of Alameda Research and FTX, the crypto empire spearheaded by Sam Bankman-Fried. This revelation comes up of Bankman-Fried’s proceedings wherever Ellison is acceptable to attest arsenic a prima witness.
As antecedently reported by the New York Times, Bankman-Fried is facing transgression charges, accused of misappropriating billions of dollars from lawsuit accounts. The documents, discovered by lawyers progressive successful Bankman-Fried’s transgression trial, could supply important insights into the dynamics of Bankman-Fried’s concern operations and his narration with Ellison.
The documents uncover that Ellison, a cardinal fig successful Bankman-Fried’s concern empire, harbored self-doubt and felt overwhelmed by her relation astatine Alameda Research. She expressed concerns implicit her suitability for the enactment presumption and besides elaborate the strain connected her idiosyncratic beingness resulting from a tumultuous narration with Bankman-Fried.
Court documents besides uncover a stark wage discrepancy betwixt Ms. Ellison and her co-executives astatine FTX and Alameda Research. Despite her high-ranking position, she received noticeably little compensation than her counterparts. Out of $3.2 cardinal allocated for payments and loans to the exchange’s founders and cardinal personnel, Ms. Ellison’s stock was lone $6 million. This contrasts sharply with the $587 cardinal that went to Nishad Singh, the Head of Engineering astatine FTX, and the $246 cardinal received by Gary Wang, a institution co-founder. The largest compensation package, a staggering $2.2 billion, went to Sam Bankman-Fried himself. It remains uncertain whether Ellison was alert of this stark wage spread astatine the time.
The severity of the charges against Bankman-Fried and the illness of FTX person made headlines successful the crypto world. The now-defunct FTX was erstwhile 1 of the world’s largest cryptocurrency exchanges, and its autumn has sparked wide scrutiny and ineligible fallout. Ellison’s confessional writings, though not yet public, connection a unsocial wrong position into the diminution of this crypto giant.
The find of these backstage documents could play a important relation successful the upcoming trial. As a adjacent subordinate of Bankman-Fried and a cardinal fig successful his operations, Ellison’s idiosyncratic and nonrecreational insights whitethorn shed airy connected immoderate of the unanswered questions surrounding the illness of FTX.
The station Caroline Ellison’s backstage writings from the months starring up to Alameda, FTX illness uncovered successful ineligible find process appeared archetypal connected CryptoSlate.
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