Eventually, according to Ellison, Bankman-Fried chose the one that omitted a line saying "FTX borrows," hiding $10 billion in borrowed customer money.
When asked by Sassoon why she continued with the scheme, Ellison said, "Sam told me to."
She said Bankman-Fried told her she should have hedged and, "speaking loudly and strongly," said it was her fault.
CEO Sam Bankman-Fried Bloomberg | Bloomberg | Getty ImagesEllison then went into her own emotional state.
After all the movement of FTX money, the company only had $4 billion to cover $12 billion in customer holdings, she said.
Persons:
Caroline Ellison, Yuki Iwamura, Sam Bankman, Saudi Crown Prince Mohammed bin Salman, Ellison, Fried, Danielle Sassoon, Genesis, Gary Wang, Nishad Singh, Bankman, FTX, Mark Cohen, District Judge Lewis Kaplan, Jane Rosenberg, Sassoon, Sam, Mohammed bin Salman, Jane Street, Slack, she'd, who'd, sloppily
Organizations:
Alameda Research, Bloomberg, Getty, Saudi Crown, U.S, District, Federal Court, Reuters, Stanford, Bankman, Wall, Alameda, New York Times, MBS, Vox, Forbes, Twitter, Toyota Corolla, Fried Bloomberg
Locations:
New York, Bankman, Alameda, FTX, New York City, U.S, San Francisco Bay, Saudi, Japan