The Block11 minutes ago

Published on October 10, 2023 17:40 GMT+00:00edited on October 10, 2023 17:44 GMT+00:00

In highly anticipated testimony, former Alameda Research CEO Caroline Ellison told a packed courtroom on Tuesday that her onetime boss Sam Bankman-Fried directed her to the commit the crimes that eventually led to the downfall of the crypto empire they helmed. 

After entering the courtroom, it took Ellison a full 30 seconds to point out Bankman-Fried in the courtroom. She's kept a low profile since the collapse of the FTX crypto exchange and sister trading firm, but she spoke clearly and loudly to the court, wearing a grey suit over a pale red dress and black tights.

Ellison said Alameda had access to customer deposits through an unlimited line of credit, along with direct access to customer deposits that were sent to Alameda's bank account known as "fiat@". She also admitted to …