Former Alameda Research CEO Caroline Ellison is set to testify today at Sam Bankman-Fried's fraud trial over the failure of crypto firm FTX. Wall Street Journal reporters will bring you live updates.
Caroline Ellison said in testimony Tuesday that FTX founder Sam Bankman-Fried ordered her to put FTX’s native cryptocurrency on Alameda Research’s balance sheet.
The exchange's digital currency, FTT, was created by Bankman-Fried and former FTX CTO Gary Wang. Ellison said putting FTT on Alameda’s balance sheet helped the hedge fund obtain more loans from crypto lenders. You can read more about FTT here.
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