When FTX founder Sam Bankman-Fried’s crypto empire teetered on the brink of collapse, top lieutenant Caroline Ellison addressed a group of employees. One part of the empire, trading firm
Alameda Research, had made risky bets using customer deposits from its sister crypto-exchange FTX and now the money was gone.
When an employee asked who decided to take customer funds, Ellison hesitated, then said, “Sam, I guess.”
