Bankless ROLLUP: SBF vs Caroline Ellison | Sam Altman on Joe Rogan | ETH Predictions
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Oct 12, 2023 Dive into the dramatic SBF trial as Caroline Ellison testifies about the chaos at FTX and Alameda Research. Discover insights from Sam Altman on crypto during his Joe Rogan appearance and gauge American attitudes towards digital currencies. Explore Ethereum's price predictions and the implications of ongoing inflation trends. The intersection of crypto with global conflicts raises critical concerns about financing and transparency. Lastly, enjoy a light-hearted take on Halloween costume ideas inspired by the crypto world!
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FTX's Original Sin
- FTX's financial issues began in 2019, not in 2022 with the Terra Luna collapse.
- Alameda had a backdoor to FTX customer funds from the start, coded by Gary Wang at Sam Bankman-Fried's direction.
Ellison and SBF's Relationship
- Caroline Ellison, Alameda's CEO, and Sam Bankman-Fried had an intertwined personal and professional relationship.
- This close relationship adds another layer of complexity to the FTX case.
Alameda's Cooked Books
- To secure loans, Caroline Ellison created multiple versions of Alameda's balance sheets, with SBF selecting the most deceptive one.
- The chosen version, "Alt-7", obscured a $9.9 billion loan from FTX customer funds.
