Sam Bankman-Fried’s former lover, Caroline Ellison, could be one of the trial’s star witnesses as arguments begin today in Manhattan court. Additionally, memos between the pair have been revealed, causing a giggle among the crypto community.
The high-profile trial of former FTX CEO Sam Bankman-Fried began in a crowded New York court on October 3. Furthermore, jury selection was not completed on the day and will continue on October 4.
‘Cons: This Could Destroy Alameda’
On October 4, crypto researcher Molly White shared memos between SBF and his girlfriend at the time, Caroline Ellison. Before he had to worry about potentially spending decades behind bars, SBF was mulling over whether to continue his relationship with Ellison.
The memos were revealed in a biography by author Michael Lewis, which hit the shelves on Tuesday, October 3.
The former crypto billionaire was analytical even when it came to relationships, it seems. He compiled a pros and cons list about dating the former head of Alameda Research back in 2018.
His arguments against a relationship far outweighed the ones for it. A lot of what SBF allegedly wrote concerned his own inner conflicts. “This could destroy Alameda if it goes really poorly PR-wise,” he said at the time.
He also pondered:
“There’s a pretty decent argument that my empathy is fake, my feelings are fake, my facial reactions are fake. I don’t feel happiness. What’s the point in dating someone who you physically can’t make happy?”
Bankman-Fried sent the memo in response to a four-page message from Ellison in 2018, according to the book. In it, she addressed concerns about the issues the relationship could cause in their work life, according to Lewis.
The Star Witness
Ellison could be the most impactful ex-member of the former billionaire’s orbit that federal prosecutors call to the stand at the trial, reported the New York Post on October 3.
Furthermore, attorney Howard Fischer told the outlet,
“She could be the witness who puts him in prison.”
Ellison has pleaded guilty to fraud charges related to the alleged theft of FTX customer funds and Alameda’s alleged misinformation. She was freed on $250,000 bail while she prepared to testify.
It is unclear whether SBF, who maintains he is not guilty, will take the stand himself, but he has been advised not to. Fischer added:
“This is one of those rare cases where the ego of the defendant may lead him to unwisely make the choice to testify in his own defense. If that happens, I think that will probably help the prosecution,”
Jury selection will be completed on October 4, where 12 jurors and 6 standbys will be chosen from the 50 or so from yesterday’s session. The court session will begin with both sides expecting to give opening arguments totaling around 90 minutes.
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