Caroline Ellison Offered to Step Down, Bankman-Fried Says

Bankman-Fried told the jury that in July 2022, he confronted Caroline Ellison about risks that Alameda was taking. Ellison started crying, he said.

He said that she told him that Alameda should have hedged, and perhaps not made some venture investments. “She also offered to step down,” he told the jury. He said he told her it was her decision.