Holpop News

Former Alameda Research CEO Caroline Ellison said she knowingly misled creditors about the amount the company borrowed from cryptocurrency exchange FTX.
“From 2019 through 2022, I was aware that Alameda had access to a line of credit on FTX, which Mr. Bankman-Fried manages. From a practical standpoint, this arrangement allowed Alameda access to an unlimited line of credit with no collateral required, no negative balance and no margin requirement in the FTX liquidation protocols,” she said.
Allison added that she and former FTX CEO Sam Bankman-Fried agreed to hide the arrangement by creating false financial statements.
She also admitted that her company knowingly used FTX customer funds.