Thursday, March 14, 2024

Sam Bankman-Fried thought of promoting FTX fairness to Saudi crown prince, says Caroline Ellison

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Former Alameda Analysis CEO Caroline Ellison claimed in court docket that Sam “SBF” Bankman-Fried tried to boost fairness for FTX by contemplating an funding from Saudi Crown Prince Mohammed bin Salman, or MBS.

Addressing the court docket at SBF’s prison trial on Oct. 11, Ellison reportedly stated she had mentioned methods of hedging Alameda investments with Bankman-Fried in 2022. In line with the previous Alameda CEO, Bankman-Fried stated that MBS was a possible investor within the crypto change previous to its collapse in November.

The potential funding by MBS was one of many notes talked about in one in all Ellison’s on-line journals titled “Issues Sam is Freaking Out About,” which prosecutors stated in August they may current at trial. In line with her testimony, the record included “elevating funds from MBS” in addition to turning regulators in opposition to crypto change Binance.

With a web value within the billions, MBS — each crown prince and prime minister of Saudi Arabia — has made investments into blockchain gaming by means of the nation’s sovereign wealth fund. Nonetheless, he was additionally reportedly related to the 2018 assassination of Washington Submit journalist Jamal Khashoggi on the Saudi consulate in Istanbul.

This can be a creating story, and additional data will probably be added because it turns into obtainable.