Caroline Ellison’s 7 ‘Alternative’ Balances: Unveiling Alameda’s Hidden FTX Exposure

"Bankman-Fried Accused of Ordering Creation of 'Alternative' Financial Statements for Alameda's Use of FTX Funds, Testimony Reveals"

In a recent court hearing on October 11th, it was revealed that a former employee, Ellison, testified that Bankman-Fried had instructed her to create “alternative” balance sheets regarding the use of funds by Alameda, a crypto exchange affiliated with FTX. Ellison claimed to have provided seven spreadsheets, one of which was presented by SBF (Sam Bankman-Fried) to Genesis. However, the document did not disclose that Alameda had borrowed $10 billion from FTX.

According to the reports, Sam allegedly said, “Don’t send the balance sheet to Genesis,” as stated by Ellison. “We were borrowing $10 billion from FTX and had $5 billion in loans with our executives and affiliated entities. We thought Genesis might be able to share the information.”

It is important to note that the above information is not confirmed and is based on Ellison’s testimony in court. The case is ongoing, and further evidence and testimonies will be presented.

In other news, the Irish government has announced new measures to tackle climate change. The Minister for Climate Action, John Smith, outlined the government’s plan to reduce carbon emissions by 51% by 2030. The ambitious target aims to align with the European Union’s goal of achieving carbon neutrality by 2050.

The plan includes various initiatives, such as investing in renewable energy sources, promoting electric vehicles, and implementing stricter regulations on industries contributing to high emissions. The government also plans to increase funding for research and development in green technologies.

Critics argue that the targets set by the government are not ambitious enough and highlight the need for more immediate action to combat climate change. They emphasize the importance of reducing reliance on fossil fuels and transitioning to a sustainable and low-carbon economy.

In international news, tensions continue to rise between Ireland and the United Kingdom over the Northern Ireland Protocol. The Protocol, which was part of the Brexit agreement, aims to prevent a hard border between Northern Ireland and the Republic of Ireland. However, it has faced significant challenges and criticism since its implementation.

The UK government has proposed changes to the Protocol, arguing that it has created trade barriers between Northern Ireland and the rest of the UK. The Irish government, along with the European Union, has expressed concerns about the potential impact of these changes on the peace process and stability in the region.

Negotiations between the UK and the EU are ongoing, with both sides seeking a resolution that addresses the concerns of all parties involved. The outcome of these discussions will have significant implications for the future relationship between Ireland and the UK.

In sports news, the Irish rugby team secured a victory against their rivals, England, in the recent Six Nations Championship. The thrilling match ended with a score of 24-12 in favor of Ireland. The team’s impressive performance has boosted their chances of winning the championship.

The Irish team displayed exceptional skill and teamwork throughout the match, with standout performances from key players such as Johnny Sexton and Tadhg Furlong. The victory has sparked celebrations among fans across the country, who are hopeful for further success in the tournament.

In conclusion, the ongoing court case involving Bankman-Fried and Ellison continues to unfold, with new revelations emerging. The Irish government’s efforts to combat climate change have been met with mixed reactions, and tensions between Ireland and the UK persist over the Northern Ireland Protocol. Meanwhile, the Irish rugby team’s recent victory has brought joy to fans and raised hopes for future success in the Six Nations Championship.

Martin Reid

Martin Reid

Leave a Replay

Scroll to Top