Caroline Ellison speaks on FTX-Binance conflict, SEC received’t attraction Grayscale BTC ETF: Hodler’s Digest, Oct. 8-14

Caroline Ellison, former CEO of Alameda Analysis, testified for over 10 hours this week at Sam Bankman-Frieds trial, providing deeper particulars on the occasions that anticipated the FTX debacle in November 2022. From Ellison’s testimony, jurors realized that she deliberate to depart Alameda months earlier than its collapse, however feared a financial institution run on FTX amidst the crypto market downturn. The week additionally featured a recording introduced as proof within the case exhibiting the precise second Ellison instructed workers about Alameda’s use of FTX buyer deposits. Among the many key moments of Bankman-Fried’s trial have been revelations of fabricated steadiness sheets in an effort to deceive crypto lenders, in addition to BlockFi CEO Zac Princes testimony. Take a look at this week’s highlights from Cointelegraph’s workforce on the bottom.

Months earlier than the collapse of crypto change FTX, former CEO Sam Bankman-Fried was freaking out about shopping for shares in Snapchat, elevating capital from Saudi royalty and getting regulators to crack down on rival crypto change Binance, based on proof introduced in court docket this week as part of the continued felony trial. Bankman-Fried believed Binance leaked an Alameda steadiness sheet to the media in 2022. In accordance with a doc from Nov. 6, 2022, Bankman-Fried wrote that Binance had been participating in a PR marketing campaign towards us. It continued, saying that Binance leaked a steadiness sheet; blogged about it; fed it to Coindesk; then introduced very publicly that they have been promoting $500m of FTT in response to it whereas telling clients to be cautious of FTX.

Proceed Studying on Coin Telegraph