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Unchained

SBF Trial, Day 7: In SBF Trial, Did the Defense Lose Its Opportunity With the Star Witness?

Oct 13, 2023
Caroline Ellison, star witness in SBF Trial, remains unshaken by defense's attempts to discredit her. Ellison reveals SBF's plans to buy Telegram and emphasizes his control over Alameda. Former employee Christian Drappi corroborates Ellison's account. Zach Prince, founder of BlockFi, briefly testifies. Tense cross-examination, doubts raised about Ellison's leadership, and further analysis of trial clips.
14:19

Podcast summary created with Snipd AI

Quick takeaways

  • Caroline Ellison revealed that Sam Bankman-Fried had plans to buy Telegram, showing his interest in major investments outside of Alameda.
  • Former Alameda employee Christian Drappi confirmed that Sam Bankman-Fried was the ultimate decision-maker at Alameda and had direct communication with the trading firm, undermining the defense's attempt to question Ellison's leadership.

Deep dives

Cross-examination of Caroline Ellison

During the cross-examination of Caroline Ellison, the defense team failed to make any new points and often asked repetitive questions. Shocking new facts were revealed, such as Sam Bingman-Fried expressing interest in making a big investment in Telegram. Ellison admitted that Bingman-Fried was not involved in day-to-day decisions and that she considered resigning from Alameda at various points. The defense tried to raise questions about Ellison's leadership and her culpability in securities fraud, but their arguments were undermined by her responses.

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