FTX Founder Criticizes Caroline Ellison in Unsent Posts
- FTX founder Sam Bankman-Fried criticized ex-Alameda CEO Caroline Ellison for the implosion of his empire.
- He also criticized Sam Trabucco, the former co-chief executive of Alameda.
- Trabucco and Ellison were not on good terms, as per SBF’s words.
- SBF stated that “the truth is that I did what I thought was right.”
Sam Bankman-Fried, the disgraced founder of bankrupt crypto exchange FTX, has released around 250 pages of justifications behind the collapse of his crypto empire and the people involved in it. While under house arrest weeks ago, Bankman-Fried, also known as SBF in the crypto space, shed light on what happened behind the scenes and how he might defend himself in the trial.
To summarize the collapse of FTX, SBF stated that “the truth is that I did what I thought was right,” while adding:
“I’m broke and wearing an ankle monitor, and one of the most hated people in the world. There will probably never be anything I can do to make my lifetime impact net positive.”
SBF was placed into custody, put behind bars in December last year, and put on house arrest after a significant bail amount. However, he was asked to refrain from using social media and other applications to prevent the crypto entrepreneur from tampering with witnesses. However, the FTX founder is currently in jail for pushing his luck in the case.
During his time of house arrest, SBF wrote hundreds of pages of self-justifications, ranging from childhood memories to mathematical calculations, according to the NYTimes. In the draft of unsent posts on social media platform X, he criticized some of his closest colleagues, interspersing his arguments with photos from his high school years and stock images of popcorn and a garden maze.
In the unsent posts, the FTX founder blamed his former girlfriend and CEO of Alameda Research, Caroline Ellison, for playing a major role in the implosion of the crypto exchange. He stated that she was ill-equipped to be the chief executive of Alameda, while adding that he gave her the job because she was crying during a meeting with him and refused to put in place trading strategies that would have protected the empire.
SBF said that Ellison “avoided talking about risk management” while adding:
“Every time that I reached out with suggestions, it just made her feel worse. I’m sure that being exes didn’t help.”
Along with Ellison, SBF also criticized Sam Trabucco, the former co-chief executive of Alameda, adding that Ellison and Trabucco were not on good terms.
As per an earlier report from BitcoinWisdom, a three-judge panel has declined the FTX founder’s appeal for an early release from jail, adding that the crypto entrepreneur’s legal team presented “unpersuasive” arguments.
A crypto journalist with over 3 years of experience in DeFi, NFT, metaverse, etc. Parth has worked with major media outlets in the crypto and finance world and has gained experience and expertise in crypto culture after surviving bear and bull markets over the years.
