Sam Bankman-Fried’s former enterprise affiliate Caroline Ellison appeared right now for her third day of testimony within the former FTX CEO’s felony trial.
With prosecutors having wrapped their questioning of Ellison, Bankman-Fried’s counsel, Mark Cohen, started his cross-examination right now. Stories from the within the courtroom, offered reside by New York media outlet Internal Metropolis Press, paint an image of a courtroom that’s bewildered and exasperated by Mr. Cohen’s ways.
Cohen’s questions had been largely repetitive of supplies lined in prosecution’s examination. The prosecutions repeatedly challenged the relevance of the questions and engaged in a number of sidebars with the decide and the protection’s request. These interruptions led Choose Kaplan to specific his want to cut back the frequency of those sidebars, thereby sustaining the movement of the proceedings.
Choose Kaplan reportedly expressed his astonishment on the type of interrogation, stating, “Mr. Cohen, I’ve by no means seen the cross of a cooperator completed like this.”
Ellison’s position at Alameda and her relationship with Bankman-Fried was a recurring theme within the cross-examination. Cohen’s line of questions highlighted variations of their threat tolerance, enterprise imaginative and prescient, and even private kinds. Their contrasting views on the blockchain venture Solana, FTX’s enterprise mannequin, and their distinct stress administration kinds had been introduced into the highlight.
Cohen’s line of questioning additionally centered on the administration of Alameda’s funds, the implications of their enterprise mannequin, and the utilization of their loans. In keeping with Ellison, the construction which Alameda employed, whereas being likened to a hedge fund, had benefits over conventional hedge funds on account of its flexibility.
Caroline Ellison is among the many authorities’s star witnesses in its case in opposition to Bankman-Fried. Her testimony is ongoing at press time.
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