Caroline Ellison, the former head of Sam Bankman-Fried's cryptocurrency hedge fund and the key witness in the criminal fraud case against the FTX founder testified on Tuesday that she and her former boss defrauded customers, investors, and lenders.
The Donald Trump fraud trial was not the only big fraud hearing happening in New York, as the trial of disgraced FTX founder Sam Bankman-Fried also kicked off on Wednesday.
FTX founder Sam Banman-Fried is going to prison, but this is more because of witness tampering rather than the FTX collapse and the fall of his crypto empire.
The Bahamas has now sent disgraced former FTX CEO Sam Bankman-Fried back to the United States. After his extradition, the former crypto mogul will be facing criminal charges related to the collapse of his crypto exchange empire.