Crypto crooks turn on each other in court

October 11, 2023

Dear Reader,

What a surprise…

There's no honor among crooks after all.

Sam Bankman-Fried's former girlfriend is throwing him under the bus.

The former CEO of Alameda research, Caroline Ellison, insists Sam "set up the systems" that led to the $14 billion FTX fraud scheme.

She's not exactly an innocent victim.

Almost a year ago, she pleaded guilty to a litany of criminal charges.

Including multiple counts of fraud.

During Sam's criminal trial, Ellison confessed that Alameda, under her direction, took billions of dollars from FTX customers.

She says those funds were used for "investments."

Like purchases of plush real estate.

Donations to political campaigns. (How is that an investment?)

And who knows what else?

Ellison then admits to sending "balance sheets that made Alameda look less risky than it was."

All of this, of course, was done without customers' consent.

What makes it all the worse is that FTX looked legitimate the whole time.

Until its collapse that is.

Cointelegraph Markets Pro offers traders the data they need to make informed crypto trading decisions and avoid getting fooled by tokens that may look legit but are not even close.

Regards,

Max K.
Markets Pro Team