When Caroline Ellison, a mousy brown-haired girl with big glasses, takes the stand against Sam Bankman-Fried next week, the defense will likely try and blame her, at least partially, for the dramatic implosion of FTX.
Her first impression of Bankman-Fried wasn't great. She purportedly described him to friends and family as a little cold and curt. He told her he was working on something he couldn't really talk about but then started talking. By the end of their caffeinated chat, he had almost convinced her to join him on his new venture, according to a new book by Michael Lewis, Going Infinite: The Rise and Fall of a New Tycoon.In March 2018, Ellison kissed both her Jane Street job and New York goodbye and moved to the Bay Area to work for Bankman-Fried.
Less than two years after getting Alameda Research off the ground, Bankman-Fried and his buddy Gary Wang launched FTX as a platform to trade crypto tokens and derivatives. By October 2021, FTX was soaring and managed to raise $420 million in venture trading.
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