⚡ Another Day, Another Ellison Tale: Day Two of Testimony Is Here!
posted 11 Oct 2023
Attorney: What did the defendant tell you to do?
Ellison: To continue repaying Alameda’s loans.
Attorney: How did you?
Ellison: Taking money from FTX customer funds.
Attorney: How much USD had customers deposits vs how much was available to them on FTX?
Ellison: They had deposited $13 billion, but only $3 billion were available to them on FTX.
Attorney: What happened to the other $10 billion?
Ellison: It had been borrowed by Alameda
Attorney: How did you feel about having $9.9 billion of borrows from FTX customers on Alameda’s balance sheet?
Ellison: I didn’t feel good. If people found out, they would all try to withdraw from FTX.
Ellison: To continue repaying Alameda’s loans.
Attorney: How did you?
Ellison: Taking money from FTX customer funds.
Attorney: How much USD had customers deposits vs how much was available to them on FTX?
Ellison: They had deposited $13 billion, but only $3 billion were available to them on FTX.
Attorney: What happened to the other $10 billion?
Ellison: It had been borrowed by Alameda
Attorney: How did you feel about having $9.9 billion of borrows from FTX customers on Alameda’s balance sheet?
Ellison: I didn’t feel good. If people found out, they would all try to withdraw from FTX.
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