- Altcoin Daily host identifies former allies testifying against Sam Bankman-Fried in ongoing court case.
- Among those identified are Caroline Ellison, SBF’s erstwhile co-worker and partner.
- Ellison is set to take the stand against SBF to speak on the relationship between Alameda Research and FTX.
Several individuals have been identified in the FTX saga involving its founder and former CEO, Sam Bankman-Fried (SBF). In a recently uploaded video, the Altcoin Daily YouTube channel host identified key players in the ongoing SBF trial, starting with Caroline Ellison, SBF’s erstwhile co-worker and partner.
According to the Altcoin Daily host, Ellison was a member of SBF’s inner circle. The video presenter noted that Ellison pleaded guilty, is set to take the stand against SBF, and will speak about the relationship between Alameda Research, a cryptocurrency trading firm, and FTX, as well as the amount of FTT crypto tokens held by both companies.
Alameda Research was a sister company to FTX, as they were both founded by SBF. The company allegedly commingled funds with FTX. The allegation is that Alameda takes funds deposited in FTX by customers to leverage trades and enrich the founders.
Gary Wang, another Alameda Research and FTX co-founder, was described as SBF’s right-hand man. He joins the list provided by the presenter as a significant player in the ongoing FTX trial. Wang served as CTO for FTX and Alameda, and the Altcoin Daily host thinks Wang’s testimony could significantly impact SBF’s case. He noted that Wang has already pleaded guilty to fraud, taken a stand against SBF, and admitted that they withdrew unlimited funds from FTX customers.
The presenter mentioned Nishad Singh, another early hire at Alameda, as one of the people to testify against SBF. Singh served as the director of engineering at Alameda before becoming the head of engineering at FTX after it launched. The Altcoin Daily host noted that Singh was one of the three people who controlled the keys to FTX’s marching engine. In February, Singh pleaded guilty to six criminal charges, including fraud and conspiracy.
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