According to Caroline Ellison, Sam Bankman-Fried contemplated giving the Saudi crown prince ownership of FTX.
Amid the ongoing legal saga surrounding Sam Bankman-Fried’s alleged wrongdoings and the collapse of FTX, the former CEO of Alameda Research, Caroline Ellison, delivered her testimony during the sixth day of the trial, delving into the intricate web of potential investments leading up to FTX’s financial turmoil. In a courtroom revelation that had spectators on the edge of their seats, Caroline Ellison claimed that Sam “SBF” Bankman-Fried had pursued a daring strategy to secure equity for FTX by entertaining the notion of an investment from none other than Saudi Crown Prince Mohammed bin Salman, often referred to as MBS. This audacious plan was discussed as they explored methods of mitigating risks associated with Alameda’s investments back in the tumultuous year of 2022. According to Ellison, Bankman-Fried firmly believed that MBS could be a significant investor in the crypto exchange, a belief that ultimately led to profound consequences for FTX as it tra...