Caroline Ellison speaks on FTX-Binance conflict, SEC gained’t enchantment 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 discovered that she deliberate to go away 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 displaying the precise second Ellison informed staff about Alameda’s use of FTX buyer deposits. Among the many key moments of Bankman-Fried’s trial have been revelations of fabricated stability sheets as a way to deceive crypto lenders, in addition to BlockFi CEO Zac Princes testimony. Take a look at this week’s highlights from Cointelegraph’s group on the bottom.

Months earlier than the collapse of crypto alternate 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 alternate Binance, in response to proof introduced in court docket this week as part of the continued legal trial. Bankman-Fried believed Binance leaked an Alameda stability sheet to the media in 2022. In line with a doc from Nov. 6, 2022, Bankman-Fried wrote that Binance had been participating in a PR marketing campaign in opposition to us. It continued, saying that Binance leaked a stability 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 prospects to be cautious of FTX.

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