Binance, Snapchat and capital among things SBF was 'freaking out about' – Cointelegraph

Former FTX CEO Sam Bankman-Fried was once “freaking out about” getting regulators to crack down on Binance and raising capital from a Saudi Crown Prince, according to Alameda former CEO Caroline Ellison. 767 Total views 33 Total shares Weeks and months before the collapse of crypto exchange FTX, former CEO Sam Bankman-Fried was “freaking out” about Alameda, buying shares in Snapchat, raising capital from Saudi royalty, and getting regulators to crack down on rival crypto exchange Binance. So was written in former Alameda Research CEO Caroline Ellison’s personal notes about FTX and Alameda, which prosecutors presented on the second day of her testimony in New York. During the trial, Ellison told jurors that a crash in the Terra ecosystem in May 2022 was significant enough to get Bankman-Fried to consider shutting down Alameda and seeking to raise $1 billion in capital from the Saudi Prince, known for his investments in blockchain gaming through Saudi Arabia’s sovereign wealth fund. ​​ Another priority for Bankman-Fried a year ago was “getting regulators to crack down” on the crypto exchange Binance, a move intended to increase FTX’s market share, according to Ellison. She didn’t provide any details on how Bankman-Fried planned to do it. — Ariel Givner, Esq.
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