FTX Founder Testifies , About Alameda Research , Concerns Prior to Collapse.<br />ABC reports that Sam Bankman-Fried testified that he <br />expressed concerns Alameda Research could become <br />insolvent four months before FTX declared bankruptcy. .<br />ABC reports that Sam Bankman-Fried testified that he <br />expressed concerns Alameda Research could become <br />insolvent four months before FTX declared bankruptcy. .<br />On October 30, Bankman-Fried said in his federal fraud <br />and conspiracy trial that he confronted Caroline Ellison, who <br />was the co-chief executive of Alameda, about his concerns. .<br />On October 30, Bankman-Fried said in his federal fraud <br />and conspiracy trial that he confronted Caroline Ellison, who <br />was the co-chief executive of Alameda, about his concerns. .<br />Bankman-Fried said he told Ellison, who is also his ex-girlfriend, <br />that the hedge fund should have taken precautions in <br />what ended up being some of its riskier investments.<br />Bankman-Fried said he told Ellison, who is also his ex-girlfriend, <br />that the hedge fund should have taken precautions in <br />what ended up being some of its riskier investments.<br />ABC reports that part of Bankman-Fried's <br />strategy in the trial has been to deflect blame away <br />from himself over the FTX collapse.<br />ABC reports that part of Bankman-Fried's <br />strategy in the trial has been to deflect blame away <br />from himself over the FTX collapse.<br />Meanwhile, Ellison pleaded guilty and cooperated with <br />federal prosecutors, providing testimony that she committed <br />fraud with, and at the direction of, Bankman-Fried.<br />Meanwhile, Ellison pleaded guilty and cooperated with <br />federal prosecutors, providing testimony that she committed <br />fraud with, and at the direction of, Bankman-Fried.<br />On October 30, Bankman-Fried said <br />on the witness stand that, while he made <br />mistakes, he never committed fraud.<br />ABC reports that the trial has been described by federal prosecutors as , "one of the biggest financial <br />frauds in American history." .<br />Bankman-Fried is currently facing seven counts <br />of fraud, conspiracy and money laundering. .<br />If convicted, the former crypto billionaire, <br />who pleaded not guilty to all charges, <br />would face a sentence of 110 years in prison.<br />If convicted, the former crypto billionaire, <br />who pleaded not guilty to all charges, <br />would face a sentence of 110 years in prison.<br />I really deeply wish that I had <br />taken like a lot more responsibility <br />for understanding what the details <br />were of what was going on there. <br />A lot of people got hurt, and that's on me, Sam Bankman-Fried statement, via ABC.<br />I really deeply wish that I had <br />taken like a lot more responsibility <br />for understanding what the details <br />were of what was going on there. <br />A lot of people got hurt, and that's on me, Sam Bankman-Fried statement, via ABC
