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SBF's Ex Dishes the Dirt: "He Made Me Do It All"
Caroline Ellison, former Alameda Research head and ex-flame of the infamous Sam Bankman-Fried, took the stand today and didn't hold back. She painted a damning picture of her former boyfriend, practically throwing him under the bus while she was at it.
I watched as she told the court how SBF masterminded the whole fraud scheme. According to her, she was just following orders from her boyfriend-boss when billions in customer funds went missing. Convenient narrative, isn't it?
"It was SBF who directed me to commit crimes that obtained billions from customers," she claimed, her voice steady despite essentially admitting to massive fraud. They met at Jane Street, dated for years, and apparently somewhere along the way, decided that other people's money was fair game.
The numbers she revealed were staggering - $14 billion of customer funds allegedly went to repay lenders. That's not just "borrowing" - that's grand theft on an astronomical scale! And when the house of cards collapsed last November, surprise surprise, there was nothing left for the actual customers.
What's fascinating to me is how easily she points the finger. "He set up the system," she claims. Yeah, and you just happened to be CEO of Alameda while this was happening? Give me a break.
The crypto trading platform they ran together crumbled spectacularly, leaving countless investors holding the bag while the inner circle lived lavishly in their Bahamas compound. Now she's singing like a canary to save her own skin.
Gary Wang, another executive who's already pleaded guilty, backs her story. It's almost like they've all aligned their narratives perfectly against SBF. Perfect timing, I'd say.
The whole affair reeks of privilege and arrogance - young elites from top institutions who thought they could play with other people's money and face no consequences. Well, the day of reckoning is finally here, and no amount of finger-pointing will erase what they've done.