The Latest Breaking News from Alameda Research

A year ago, Sam Bankman-Fried (often called “SBF”) was on top of the world. He had been on the covers of Forbes, which dubbed him “the richest twentysomething in the world”, and Fortune – the equivalent, for a business leader, of a rock star on Rolling Stone, or an athlete…

Bankman-Fried built a multibillion crypto business spearheaded by FTX with the help of a group of young colleagues. Now three of his closest associates have turned against him.

“I just had an increasing dread of this day that’s been weighing on me for a long time,” Ellison, former CEO of Alameda Research, texted Bankman-Fried.

"It was for advantageous optics," former FTX engineering chief Nishad Singh testified on Monday.

While Bankman-Fried lounged on a white chaise chair, Singh realized that FTX was not force for good but had "turned out to be so evil."

Cryptocurrency market faces pressure amid Israel-Hamas conflict and inflation concerns

The trial of the former FTX CEO concluded its second week, featuring explosive testimony from Caroline Ellison, a former girlfriend of Bankman-Fried.

The former Alameda CEO offered stunning testimony against her ex-boyfriend and failed crypto mogul being tried for fraud

Caroline Ellison accused Bankman-Fried of being the mastermind behind illegal activity at FTX. Her words carry weight: She worked with him and also once dated him.

Ellison said in her testimony at SBF’s trial on Tuesday that he told her to use Alameda funds to prop up the price of FTT, FTX's native token.

The former CEO of Alameda Research had only a half-a-percentage-point stake in FTX and no equity in the crypto hedge fund she once led, she testified on Tuesday afternoon.