A judge kept secret that two of Sam Bankman-Fried’s associates had turned against him so the crypto entrepreneur wouldn’t fight extradition from the Bahamas.
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The judge got assurance from Ellison’s lawyer that there was no objection to the request before granting it. Ellison is the former chief executive of Bankman-Fried’s cryptocurrency hedge fund trading firm, Alameda Research. Wang co-founded FTX, the crypto exchange. Both agreed to testify at Bankman-Fried’s trial.They and Bankman-Fried are accused of defrauding customers and investors by illegally diverting massive sums of customer money from FTX to make lavish real estate purchases, donate money to politicians and make risky trades at Alameda.
Ellison said she was aware from 2019 through 2022 that Alameda was given access to a borrowing facility at FTX.com that allowed Alameda to maintain negative balances in various currencies. Ellison said she understood that Alameda had financed the investments with short-term and open-term loans worth several billion dollars from external lenders in the cryptocurrency industry.
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