HomeCryptocurrencySam Bankman-Fried attempted to sell FTX to Saudi Prince MBS, according to...

Sam Bankman-Fried attempted to sell FTX to Saudi Prince MBS, according to reports.

Sam Bankman-Fried’s Attempt to Sell FTX to Saudi Prince

Former Alameda Research CEO Reveals Shocking Details

In a surprising turn of events, Caroline Ellison, the former CEO of Alameda Research, made startling revelations in court about Sam “SBF” Bankman-Fried’s attempts to secure funding for FTX. It is alleged that Bankman-Fried considered seeking an investment from Saudi Crown Prince Mohammed bin Salman (MBS) to raise capital for the cryptocurrency exchange.

Unveiling the Truth

During the trial on October 11th, Ellison testified that in 2022, she discussed strategies for safeguarding Alameda Research investments with Bankman-Fried. At that time, Bankman-Fried mentioned that MBS had been a potential investor in the crypto exchange before it collapsed in November.

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A Shocking Revelation

One of the entries in Ellison’s online diary, which was presented as evidence in court, mentioned the possibility of MBS investing in FTX. The diary also listed Bankman-Fried’s objectives as raising capital from MBS and instigating regulatory action against the major competitor, Binance.

More Insights

For further details on this astonishing case, read the full article on Cointelegraph.

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