Ellison described how the ever-ambitious FTX-affiliated hedge fund had acquired a massive loan from deposits of the cryptocurrency exchange, forming a sizable gap in Alameda Research’s ledger. Bankman-Fried asked Ellison to create alternative books of accounts to coverup the debt, but she felt an immense sense of relief when the firms tripped up eventually. She vouched for Bankman-Fried and fingered him as the prime inventor of the powering borrowing attraction that was ftultimately responsible for bringing the FTX to its knees, contrary to his idea of her running the show.
Despite his several assertions, Ellison rigorously maintained her subtle point: “Sam was the one who had opted to authorize and partake in the implementation of investments that led us to the poorly balanced debt paid to FTX”. In connection to the falling of FTX, she further gave word of the distress presently reigning in the crypto area, as well as the tension she endured as Alameda took out bills of billions from the company.
On the flipside, Bankman-Fried provided advice to create a set of false ledgers and eventually attributed her as the causality to a deteriorating environment. Ellison confessed that in the recent past, he also sought assistance from some form of foreign investment, mentioning a hefty bounty channelled to Chinese proponents to escape the paradox of unbleace her $1million rescuing funds.
Ellison concluded by admitting that she had lied to fellow staff in regards to the appeal for aid.