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Sam Bankman-Fried’s trial enters into its seventh day, with witnesses testifying Alameda and FTX’s mishaps led to an industry-wide cascading effect. The 7th day of FTX founder Sam Bankman-Fried’s historic trial continues, as former Alameda CEO, Caroline Ellison is cross-examined by the defendant’s lawyers. Two other witnesses also testified today, which included Christian Drappi, a software engineer at Alameda, and Zac Prince from bankrupt crypto exchange BlockFi. Cross-examination of Caroline Ellison, former CEO of Alameda Research Ellison admits that he found SBF correct in some of his statements and also saw him as ambitious. Ellison admits that SBF was willing to take on more business risk than her. After former Alameda Research co-CEO Sam Trabucco resigned in 2022, SBF wanted to appoint another co-CEO. However, Ellison wanted to remain the sole CEO. Even as a CEO, Caroline Ellison handled most of the core tasks at Alameda, including HR, accounting, and ...

Week 2 of Sam Bankman-Fried’s trial in New York continued after premiere witness accounts from SBF’s inner circle as federal prosecutors pointed the jury to alleged fraudulent schemes masterminded by the FTX founder himself. Day 4 of SBF’s trial ended a few minutes ahead of schedule, but not before Gary Wang dealt potentially heavy blows to the founder’s defense. Wang, former Alameda and FTX CTO, told the court of special code written to allow SBF’s hedge fund withdraw without limits, adding that SBF lied to the public about how FTX treated customer cash and assets, per InnerCityPress. OK – SBF trial restart, Gary Wang still on cross examination, Bankman-Fried's lawyer want to ask him about other lawyers' role in his real estate purchases. On desk (and photogs waiting outside for) Caroline Ellison. Inner City Press will live tweet, thread below pic.twitter.com/qDvMDZberR — Inner City Press (@innercitypress) October 10, 2023 Before that, another childhood fr...

A missing ‘bitcoin millionaire’ has been found dead in North-West Arkansas after disappearing earlier this month, his family revealed on Tuesday. ER doctor and cryptocurrency creator John Forsyth was reported missing on May 21 after he failed to show up to work at Mercy Hospital in Cassville, a small town deep in the Missouri Ozarks. His brother and crypto business partner Richard Forsyth said at the time, “He wouldn’t miss a shift even if his eyeballs were hanging out of their sockets… It was an immediate red flag.” Forsyth’s last moment of contact was a text he sent in the early morning on the day of his disappearance to his recently engaged partner. His car was discovered unlocked at a nearby lake. His mobile phone, work briefcase, wallet, and passport were left inside.  Despite a nine-mile radius search from police involving dogs and drones, Forsyth remained missing for over a week. On Tuesday night, authorities reportedly contacted Forsyth’s family to re...