Sam Bankman-Fried to go head-to-head with former partner Caroline Ellison in a legal battle

Sam Bankman-Fried, the founder of bankrupt cryptocurrency exchange FTX, is set to face his ex-girlfriend, Caroline Ellison, in court. Ellison is expected to testify against Bankman-Fried, who is accused of stealing billions from customers. As the former head of Alameda Research, Bankman-Fried's trading firm, Ellison is alleged to have played a significant role in the scheme. She pleaded guilty in December, admitting that she knew what they were doing was wrong. Bankman-Fried has denied all charges against him. The collapse of FTX, once one of the largest crypto platforms, occurred last year, with over $8 billion missing. Prosecutors claim that Bankman-Fried stole customer funds through Alameda, using the money for personal expenses, political donations, and to fund risky crypto bets. When Alameda's lenders demanded repayment, Bankman-Fried allegedly instructed Ellison to use FTX customer funds. She has admitted to various charges, including lying about the relationship between the two firms. Bankman-Fried's defense argues that Alameda's actions were reasonable given its role in facilitating trading on FTX. The trial is expected to be influenced by Ellison's tumultuous romantic relationship with Bankman-Fried. Their relationship has been a source of stress for both parties, according to filings and personal writings shared by Bankman-Fried. Bankman-Fried's bail was revoked when it was discovered that he had shared these writings, leading him to await trial in jail. Ellison and Bankman-Fried met while working at Jane Street, an investment firm. Ellison, the daughter of MIT economists with a math degree from Stanford, shares Bankman-Fried's ambition to make money for positive purposes. She is one of several individuals close to Bankman-Fried who will testify against him in court.