To much hype, Sam Bankman-Fried’s former business partner and on-again-off-again romantic interest Caroline Ellison entered the witness box in the high-profile fraud trial of the former FTX boss on Tuesday.
Ellison admitted to the prosecution of committing crimes while head of FTX’s sister company Alameda Research, but disclosed that Bankman-Fried “directed me to commit these crimes”.
“Around how much FTX customer money did Alameda use to repay its lenders?” Ellison was asked, referring to allegations of money laundering of FTX customers’ funds.
“Uh, in the ballpark of $10 billion,” Ellison replied.
Ellison was extremely thorough in her verbal account of mishandling of user funds as the day in court progressed, but while none of this came as a surprise, one statement surely stood out.
According to members of the audience, Ellison recounted how Bankman-Fried once thought he stood a 5% chance of becoming US president.
Apparently, he portrayed himself as someone who wouldn’t hesitate to toss a coin on the 50/50 chance of global annihilation.
Anyone can grow up to be president, as the American doctrine goes, so Bankman-Fried’s hubris has some merit, however terrifying.
Bankman-Fried’s seeming ability to hold sway over just about anyone, from mega sports stars like Tom Brady to major venture capital institutions like Sequoia Capital likely added to his delusions of grandeur.
It’s probably for the best that Bankman-Fried’s presidential ambitions are on the back burner while he attempts to dodge multiple lifetimes in prison… but never say never.
There could be more eye-catching revelations when Ellison returns to the witness box this Wednesday.