Sam "SBF" Bankman-Fried, former CEO of FTX, had aspirations to lead the United States, according to Caroline Ellison, a former partner and business associate.

In her testimony against Bankman-Fried on October 10, Ellison allegedly stated that the former CEO of FTX desired to become the president of the United States in the future.

While the two continued to collaborate in their respective leadership posts at Alameda Research and FTX until November 2022, the declaration came after the end of their personal relationship.

Ellison acknowledged engaging in fraud while working for Alameda under Bankman-Fried's supervision, alleging that he "set up the systems" that allowed the hedge fund to siphon off about $14 billion from the exchange.

She agreed to testify as part of a plea deal with the prosecution on the fifth day of SBF's criminal trial.

Between 2020 and 2022, between $10 and $20 billion in FTX user funds were transferred to Alameda, with some of the money being used to "repay loans, investments, and stablecoin conversions." She further stated that neither investors nor auditors were being told about Alameda's line of credit by FTX.

The former CEO of Alameda Research stated that the company used loans from Genesis as a source of funding in 2021 and that it had purchased FTX Tokens (FTT) from cryptocurrency exchange Binance using the line of credit at SBF's direction because "Binance would cause trouble" otherwise.

In addition, Ellison asserted that she didn't feel fully qualified to lead Alameda:

"Sam said I should do it," stated Ellison. “I checked everything with him. He was the person I reported to. He could fire me.”

She also depicted Bankman-Fried's perspective on risk:

“He [SBF] said it was okay if [there was] positive EV, expected value. He said he was willing to take large coin flips. He talked about being willing to flip a coin and destroy the world, as long as a win would make it twice as good.”

Sources:

https://cointelegraph.com/news/sam-bankman-fried-us-president-says-caroline-ellison

https://twitter.com/innercitypress/status/1711806222117027840

https://twitter.com/innercitypress/status/1711818155868274797