Former Alameda CEO: SBF has huge risk appetite and transferred Robinhood purchased by Alameda to FTX

Odaily Planet Daily News In the latest trial, former Alameda CEO Caroline Ellison testified, insisting that SBF was involved in large-scale fraud by FTX and Alameda Research. Ellison said the SBF had directed her to carry out the crimes. She also stated that SBF is the final decision-maker of the FTX empire, although SBF has publicly distanced itself from Alameda. Furthermore, Ellison highlighted SBF's huge appetite for risk, frequently ignoring her concerns and even asking her to revise her calculations to mitigate risk, and despite significant risks, SBF persisted with a $3 billion venture capital investment. Ellison also disclosed that SBF purchased a stake in Robinhood in May 2022, saying that this stake was paid for by Alameda, but SBF later requested that it be transferred to another entity of FTX to avoid being associated with Alameda. The trial also touched on Ellison's romantic relationship with SBF, which she said led to embarrassing situations at work. She also made reference to her private diary, which is likely to come into focus again as the trial continues. (Bloomberg)