According to a collection of unsent tweets and other documents, Sam Bankman-Fried heavily criticized his ex-lover Caroline Ellison for her handling of the crisis that led to the downfall of FTX. These writings were compiled while Bankman-Fried was under house arrest. The New York Times reported that Bankman-Fried, who served as CEO of FTX’s sister cryptocurrency hedge fund Alameda Research, blamed Ellison for mishandling the crisis. He also expressed frustration with her avoidance of risk management discussions and mentioned their tumultuous relationship as a contributing factor. The couple’s relationship will be examined closely in Bankman-Fried’s upcoming federal trial, where he faces charges related to defrauding FTX customers. Ellison has already pleaded guilty to fraud charges and is expected to be a key witness.
Bankman-Fried shared these personal writings and documents with cryptocurrency industry influencer Tiffany Fong, who then provided them to the New York Times. The trove included about 250 pages of documents, including the text of a lengthy Twitter thread. Bankman-Fried expressed his initial attraction to Ellison in this thread but later felt trapped by their relationship. He claimed that he often ended relationships because his partners desired more intimacy and commitment than he did, making him feel claustrophobic. Bankman-Fried became increasingly frustrated with Ellison’s refusal to hedge Alameda’s risky trades and even admitted to sending her a hurtful message. He believed that if Alameda had hedged, it could have prevented the collapse. Throughout the thread, Bankman-Fried included links to music videos by Alicia Keys, Katy Perry, or Rihanna to emphasize key moments in the narrative.
Representatives for Bankman-Fried and Ellison did not immediately respond to requests for comment. Bankman-Fried also criticized Sam Trabucco, a former co-CEO at Alameda, for prioritizing his personal life over work. Trabucco left Alameda just before its collapse. Bankman-Fried is accused of using FTX customer funds to cover risky trades at Alameda and fund his extravagant lifestyle. He has pleaded not guilty to various charges. Recently, Bankman-Fried was jailed for allegedly leaking Ellison’s personal writings to a New York Times reporter. In these writings, Ellison expressed concerns about their relationship affecting the office environment and causing drama. She also mentioned that her enthusiasm for Alameda had decreased after a previous breakup with Bankman-Fried.
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