SBF's ex-girlfriend Caroline: SBF said he would become the President of the United States, and Binance will cause trouble

SBF's trial in court on 10/11 was attended by SBF's ex-girlfriend and Alameda's CEO Caroline Ellison, who has already pleaded guilty. In addition to testifying that SBF manipulated her to commit fraud, the court also brought up many of SBF's eccentric ideas.

Caroline, SBF's Ex-Girlfriend: He Said He Would Become President of the United States

Caroline Ellison stated that she did not keep her personal and professional life separate after joining the FTX Group. The two started an on-and-off relationship in the summer of 2020.

SBF told Caroline Ellison that his aspiration was to "become the President of the United States."

SBF: Binance Will Cause Trouble

Caroline Ellison described the exchange "Binance" as "a competitor with $2 billion worth of FTX shares. Sam wants to buy it back in the summer of 2021."

SBF stated that if they do not buy back the Binance shares, it will cause trouble.

Caroline Ellison informed the judge that SBF believed it was reasonable to use Alameda's credit line. According to Caroline, FTX had $10-20 billion deposited in Alameda to buy back Binance shares.

Ultimately, due to the significant rise in FTT, Alameda did not have to pay any money. The seed round price was ten cents, then it rose to one dollar, with a historical price of $85.

Alameda Borrowed Money from Genesis and FTX

In addition to misappropriating customer assets, Caroline Ellison informed the judge that in 2021, Alameda's funding sources included the bankrupt institutional lending platform Genesis under DCG, as well as various other crypto lending institutions.

Caroline Ellison stated that initially, they did not include FTT in Alameda's balance sheet. However, in order to make the financial statements look better to borrow money from Genesis, they eventually included it.