Sam Bankman-Fried considered selling FTX equity to Saudi crown prince, says Caroline Ellison


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Former Alameda Analysis CEO Caroline Ellison claimed in court docket that Sam “SBF” Bankman-Fried tried to lift fairness for FTX by contemplating an funding from Saudi Crown Prince Mohammed bin Salman, or MBS.

Addressing the court docket at SBF’s prison trial on Oct. 11, Ellison reportedly said she had mentioned methods of hedging Alameda investments with Bankman-Fried in 2022. In line with the previous Alameda CEO, Bankman-Fried stated that MBS was a possible investor within the crypto alternate previous to its collapse in November.

The potential funding by MBS was one of many notes talked about in one of Ellison’s online journals titled “Issues Sam is Freaking Out About,” which prosecutors stated in August they might current at trial. In line with her testimony, the record included “elevating funds from MBS” in addition to turning regulators towards crypto alternate Binance.

With a internet price within the billions, MBS — each crown prince and prime minister of Saudi Arabia — has made investments into blockchain gaming by the nation’s sovereign wealth fund. Nevertheless, he was additionally reportedly connected to the 2018 assassination of Washington Put up journalist Jamal Khashoggi on the Saudi consulate in Istanbul.

This can be a creating story, and additional info will probably be added because it turns into obtainable.