00:00 It's Benzinga and here's what's on the block.
00:02 A secret recording exposed during Sam Bankman-Fried's trial revealed Caroline Ellison and Alameda
00:07 research staff discussing the collapse of Alameda and FTX in a November 9, 2022 meeting
00:11 in Hong Kong.
00:12 In the recording, Ellison can be heard saying that FTX "always allowed Alameda to borrow
00:17 user funds as far as she knew."
00:19 Former Alameda software engineer Christian Drapi testified about the recorded meeting
00:23 and described Ellison's demeanor as "sunken" and her body language as "not confident."
00:27 When asked whose idea was to plug Alameda's loan losses with FTX customer money, Ellison
00:32 giggled and said, "Sam, I guess."
00:34 For all things money, visit Benzinga.com.
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