FTX Manipulated Bitcoin Down

Caroline Ellison came to the table. the ex-girlfriend of Sam Bankman-Fried (SBF) admits to having manipulated the price of bitcoin downward via FTX.

“Sell as long as bitcoin is above $20,000”

Caroline Ellison is the key witness in the trial which has been taking place for a week in a New York court. From 2021 to 2022, she directed Alameda Researchan investment fund owned by Sam Bankman-Fried.

Alameda is accused of illegally dipping into customer funds from the FTX exchange. Particularly via FTT tokens. The same people that the Binance exchange got rid of, causing a wave of panic that led to the fall of FTX.

FTX founder and ex-CEO Sam Bankman-Fried has since been arrested in the Bahamas and extradited to the United States. It has now been almost a year since the US justice system has tried to unravel this affair, made delicate due to the tens of millions of dollars that SBF generously donated to the Democratic Party…

Caroline Ellison recounted how SBF knowingly dipped into client funds. “Sam was the boss and owner of Alameda Research. […] He asked us to take money from customers to pay debts […]. He’s the one who set up the system.” which made it possible to siphon funds from FTX clients.

These confessions are consistent with those of another FTX bigwig, Gary Wang, a childhood friend of SBF. G. Wang confirmed that Alameda Research could “withdraw unlimited funds”. We’re talking $14 billion…

The icing on the cake, it appears that SBF had decided to sink bitcoin. C. Ellison said yesterday that SBF had instructed him to “sell bitcoin as long as it is above $20,000”…

For what ? For who ? Each day that passes suggests a little more that SBF, which benefits from the most expensive bail in history ($250 million), has carried out the dirty work of very high-ranking interests.