caroline ellison is 'ust one we expect i trial? caroline ellison is 'ust one we expect her i trial?xpect her to h trial? caroline ellison isjustl one we expect her to continue her statement tomorrow. beyond that, we expect her to bring people who have lost money using the ftx crypto exchange. a really big question though is whether mr bankman—fried will choose to testify himself. we don't know. it is his right and it would be highly unusual in a case like this but it would also give them a chance to make his own case in front of the jury. his own case in front of the 'u . ~ , his own case in front of the jury. we will be tracking more u dates jury. we will be tracking more updates from _ jury. we will be tracking more updates from the _ jury. we will be tracking more updates from the trial. - jury. we will be tracking more updates from the trial. in - updates from the trial. in other news making headlines before we go, birkenstock is set to make its debut on the new york stock exchange later today. the german orthopaedic footwear is expected to price its ipo at $46 per share. some p

but make no mistake, caroline ellison is their star.former ceo of alameda research. that's the crypto hedge fund that sam bankman—fried founded. she's also the former romantic partner of sam bankman—fried, and she spoke about both rules today. she talks about having a personal closeness with mr bankman—fried, but also saying that at times she felt awkward around him because she was dating her boss and because she felt neglected in their personal relationship. and she said that in the business he was in the driver's seat, that she took direction from him, she deferred to him and that she reported up to him. and at one point today, she talked about alameda research using $14 billion of ftc�*s customer funds to pay back lenders and to make investments. she said it also had the benefit of improving the look of alameda as balance sheet, making it look less risky to potential investors. she said she did that at the direction of mr bankman—fried. that was the through line in her testimony today. erin, what can we expect next in the trial? now,

cryptocurrency exchange he ran. 0n the witness stand today is a key member of his inner circle, caroline ellisonstimony from yesterday. 0ur north america business correspondent erin delmore was at the court and joins us now. tell us more about who caroline is and what the testimony was about. caroline ellison is the star witness for the prosecution. this was reflected yesterday in the level of excitement at the court in an absolutely packed cortez. she is the former ceo of a crypto hedge fund founded by sam bankman—fried and was personally close with the defendant. they dated off and on for a number of years and even live together in a $30 million penthouse in the bahamas with executives from both companies. she told the jury yesterday that she had sam bankman—fried committed financial crimes together. she said dated billions of dollars from ftx customer funds and used to pay for investment and to pay back investors —— she said they took billions of dollars. she has pleaded guilty and is working with the prosecution, sam bankman—fried has pleaded not guilty to fraud and conspiracy charges. it is

the government is calling at least three key witnesses in this case, but caroline ellison is their starthe former ceo of alameda research, the crypto hedge fund that sam bankman—fried founded, also the former romantic partner of sam bankman—fried and she spoke about both roles today. the two were close, having dated off and on over a couple of years, and having lived together in a penthouse in the bahamas with other executives from both companies. but after arriving in court on tuesday, ms alison was asked to look out into the courtroom and point out mr bankman—fried, and she couldn't immediately recognise him. she took more than ten seconds to stand, look, turn, crane her head, before finally identifying mr bankman—fried in a suit. in her testimony, she described feeling deferential to mr bankman—fried and at that time she felt awkward, both because she was dating her boss, and because she felt neglected in their personal relationship. she also said that she ran all major decisions by him. when asked, did you commit any crimes while at alameda research, she answered, yes, we did, inclu

caroline ellison is the star witness for the prosecution.ted yesterday in the level of excitement at the court in an absolutely packed court. she is the former ceo of a crypto hedge fund founded by sam bankman—fried and was personally close with the defendant. they dated off and on for a number of years and even lived together in a $30 million penthouse in the bahamas with executives from both companies. she told the jury yesterday that she and sam bankman—fried committed financial crimes together. she said they took billions of dollars from ftx customer funds and used to pay for investment and to pay back lenders, she said they took billions of dollars. she has pleaded guilty and is working with the prosecution, sam bankman—fried has pleaded not guilty to fraud and conspiracy charges. it is an astonishing case, not only looking into what went wrong and where the money went but it could determine how crypto is regulated going forward. you were in court yesterday, did anything stand out to you as particularly remarkable? so much about this ca

sonali: the caroline ellison part of this is becoming more pronounced as this trial goes on.as brought up in prosecution's opening arguments as well as the defense. for the prosecution, remember the in circle i walkig about. they were talking about bringing her to the four for them to explain their interactions with sam bankman-fried. the prosecution defines two ways. that alameda had taken money through ftx with cash as well as his digital wallets. they will be using caroline ellison to explain how that happened and what sam bankman-fried knew and what he directed. in the defense part of the argument they have said carolyn allison was running alameda. they made the defense that one person, one ceo cannot be at all places at all times and as a shareholder and directed caroline ellison to do things like hedge the portfolio ahead of the crash that led to the ultimate bankruptcy of ftx despite the comb mingling of the funds. this is sam bankman-fried's former girlfriend who had a lot of details about how sam bankman-fried operated himself. it will be up for the jury to decide bu

is his story about his history at ftx and how he brought caroline ellison in. the question will be who the jury believes. do they believe him or believe caroline ellison or gary wang who are some of his closest friends who testified against him in the first three weeks of the trial? jon: just to build on that question, what would have been his options if ultimately they had decided he shouldn't take the stand? >> it would have been a very short defense case. he only has a few expert witnesses to testify. that's about it. the case would have been short. matt: great to have you on and we will get you back when we get more. there is a special called ruin and i highly recommend watching this. it's fascinating. coming up, shares of ford tumbled in the most an eight-month on the back of the earnings release also because of what they didn't say. they are no longer forecasting the kind of earnings they were before the strike so we will dig into what's fueling that in our stock of the our next. plus taking a look at the broader market, we are seeing a selloff this after

>> caroline ellison is the start witness.eeds lawyers -- sam bank winfrey's lawyers had directed her -- say she was -- sam bank been freed's -- sam bankman read was his on-again off-again girlfriend as far as the ceo of alameda. certain parts of her own personal diaries have shown she questioned her ability to lead the firm and left the uncertainty to sam bateman freed -- sam bank been freed. he has known him since high school and testified. so to critical parts of the prosecution's argument are coming to the floor -- floor this week in the second part of the trial. guy: give me a sense of how critical the testimony will be. give us a sense of how much of a game changer we will learn over the next few hours could go one way or the other. sonali: there are not that many people who knew the extent to which the siphoning of money between ftx and alameda that had happened. but the three people who pled guilty know the most for caroline ellison, there are diaries obtained by the new york times weeks ago said to have been leaked by

caroline ellison is a former top executive at the failed cryptocurrency exchange. her to commit financial crimes that she admitted to last year. he has pleaded not guilty to charges of defrauding investors and customers out of billions of dollars. he faces decades in prison if convicted. >>> and "the oklahoman" says a judge vacated the sentence of a man who spent 30 years in prison for a 1987 rape and burglary. the judge exonerated perry lott and permanently dismissed the case. he was released from prison in 2018 after dna testing showed he did not commit the crime. the district attorney at the time said the dna evidence did not exclude lott as a suspect. earlier this year, a new district attorney agreed the conviction should be vacated. >>> still to come, great scott. an original delorean like the one featured in "back to the future" has been found in an unlikely place. unlikely place. somedays, i cover up because of my moderate to severe plaque psoriasis. now i feel free to bare my skin, thanks to skyrizi. ♪(uplifting music)♪ ♪nothing is everything♪ i'm celebrati

to your point, caroline ellison will take the stand just this afternoon. give me some of the drama. i've stood where you're standing. weeks and weeks in a trial like this. this is caroline ellison's first public appearance and it's important for prosecutors, right? this is a big moment for them. reporter: this is the biggest moment. she's such a critical part of this trial. remember, prosecutors themselves say only a very small number of people really knew what was going on inside of f.t.x. and alameda and the extent to which this alleged fraud was carried out. now, remember when you think about caroline and her role at alameda, she was the c.e.o. of the hedge fund in question here that has said to have been taking money out of f.t.x. in two different ways. through the wallets and through fiat itself. now, remember, you were talking about the star-studded trial here. caroline speaking for the first time. such a critical part of the defense. this is the second week of what will be a six-week trial to which many journalists from early in the morning, 6:00 a.

yeah, so caroline ellison has been on the stand this morning. they're in a short break right now. we are getting a picture of her state of mind when she was running sam bankman-fried's hedge fund. she talked about this constant state of anxiety she lived in that everything would come crashing down. she said she knew it was wrong, but, quote, sam told me to. she said she lived in what she called a constant state of dread every day worrying about customer withdrawals from ftx. she also said that sbf told her to be careful about putting things in writing that might get them in legal trouble. according to ellison, bankman-fried, also her former boyfriend, continued to tell her to repay alameda's loans with ftx customer money. at one point, she said she calculated the probability that she wouldn't be able to pay ftx customers back. she said she shared that with bankman-fried, said that she was concerned, she said she lived with the constant fear of ftx customers withdrawing their money and that, quote, we would not be able to meet those withdrawals. she also talked about living in fear

we're going to get our next witness this afternoon, but caroline ellison the star witness of this caseas well, and show you those live pictures when caroline ellison does emerge from the courthouse right behind where kate is standing. thank you. we'll talk to you again soon. >>> up next, stocks lower as we head into the close. the dow is now down about 189 points. coming up, breaking down his first reaction to that cpi print and this late day slip in stocks, that's just after the break. >>> as we head out, cnbc celebrating hispanic heritage and sharing the stories of influential hispanic business leaders with you. >> what others can learn from my journey is that if an industrial engineer from a factory in brazil can become the chief supply officer of colgate p palmolive that means that anyone can go beyond their dreams. be proud of your heritage. be proud of your identity. at the end, those are your super powers. what you bring with you from your country is really what defines you as a professional and as a human being. medicaid, i have some really encouraging news that you'll definite

the government is calling at least three key witnesses in this case but caroline ellison is their store aspect founded by sam bankman—fried. she has pleaded guilty and is cooperating with prosecutors. sam bankman—fried is being tried on fraud. he has pleaded not guilty. and the two were close. having dated off and on over a couple of years and on over a couple of years and having lived together in a penthouse in the bahamas with other executives from both companies. but after arriving in court on tuesday, she was asked to look out into the courtroom and point mr bankman freed, and she couldn't immediately recognise him. she took more than ten seconds to stand, look, turn, crane her head, before finally identifying mr bankman freed in a suit. she described feeling differential to mr sam bankman—fried. she felt awkward both because she was dating her boss and because she felt neglected in their personal relationship. she also said she ran all major decisions by him. when asked, did you commit any crimes while at the company, she answered yes, we did, including sam bankman—fried. their tes

caroline ellison, who took a plea deal with prosecutors, said bankman-fried directed her to commit fraudey laundering and told her he would be president one day. >>> and the movie musical adaptation of the color purple has a new trailer out. the film stars fantasia barrino and taraji p. henson. the color purple hits theaters christmas day. >>> for more, download the cbs news app on your cell phone or connected tv. i'm jarred hill, cbs news, new york. >> announcer: this is the "cbs overnight news." >>> we're in israel as it prepares for an expected ground invasion of gaza in what is already the bloodiest war in decades. here in tel aviv, we heard air raid sirens throughout the day with constant threats of rocket attacks. on day four of this escalating war, israel is pounding gaza with hundreds of missile strikes, targeting what the military calls a hamas terror nest. reports tonight the idf took out hamas' economic minister. and more than 1,000 people have been killed in israel with an estimated 900 in gaza. and we have learned some disturbing new details about a massacre that occurred in

>> reporter: so caroline ellison is on the witness stand as we speak.he prosecution coming out swinging today, asking her did you commit financial crimes when you were running sam bankman-fried's hedge fund. she said without hesitation yes, sam directed me to commit these crimes. she arrived this morning in a baseball cap going in the side door of the courthouse. she walked right by sam bankman-fried they both stared str straight ahead today. prosecutors had her look around the courtroom and point out sam bankman-fried she stood up, peeked around said there he is. she said she met sam bankman-fried when she was an intern and then dated him for a couple years. she was calm today, very matter of fact during all of this. she spoke slowly and deliberately. she was one of the highest ranking executives in his circle. she said one of the things he knew about and approved a $60 billion line of credit and the ability for alameda to have customer funds from ftx sent to its bank account. she said sbf was the one directing employees to set up the systems. and said

we're expecting a more personal accounted from caroline ellison. gary wang, other top executives and sam bankman-fried's inner circle. he had a close knit group of executives living in the bahamas with him. they have pleaded guilty. they're working with prosecutors. ellison said she knowingly committed fraud. it's an uphill battle for the defense team. i think the fourth executive brian salem pleaded guilty, but we do not expect him to testify. >> all right. thank you very much kate rooney, we appreciate it. >>> social media's new revenue stream meta plans to charge users in europe to add free versions of facebook or instagram. not unlike the streaming service model. will users pay up or log out? "power lunch" will elo tt ene dig into the metaverse. is is more and more businesses move to the cloud. - so, the question is... - cyber attack! as cyber criminals expand their toolkit, we must expand as well. we need to rethink... next level moments, need the next level network. [speaker continues in the background] the network with 24/7 built-in security.

interesting testimony by caroline ellison today, liz.me think, and this is where i think rubber meets the road, everybody is kind of under the impression that caroline ellison, sam bankman-fried's former girlfriend, the woman at the center of implosion of alameda hedge fund. liz: star witness. >> star witness who allegedly took money out of the ftx crypto exchange. everybody thought they did this at the last minute, that is was some mad scramble. what she said today was really fascinating. we didn't do it at the last minute when ftx blew up later in the year, we did it early as the summer, we were being cooking the books, we were taking customer money out to make loans and buy stuff t was quite remarkable. that makes me think at least after june of 2022 going forward, guess what, that was taking money from peter, peter to pay paul, robbing peter to pay paul. that would leave the money anthony scaramucci got for his highbridge fund to funds he got his money in september. this is getting really dicey. i wonder what that means. does that me

stuart: sam bankman-fried's ex-girlfriend, caroline ellison, back in court.put the blame on her for the failed company. kelly o'grady has the latest prosecute courthouse next. ♪ - [narrator] what will you do when the power goes out? power outages can be unpredictable and inconvenient, but with a generac home standby generator, your life goes on uninterrupted because you'll have power when you need it the most. - with the generac it powers our well, the refrigerator, and my cpap machine, which are all things that we need to survive on a day-to-day basis - [narrator] get the security and peace of mind your family deserves with a home standby generator from generac. eight out of 10 home generators are generac with thousands of satisfied customers. - it's the peace of mind to get the generac generator. that was the best investment that we could have ever made. - [narrator] and owning a generator is easier than ever. special financing is available with low monthly payment options. act now and you will also receive a free seven-year warranty valued at $735. power y

caroline ellison on the stand for hours today. will her testimony seal sbf if's fate?ells what happened in the courtroom and what is happening when we come back. 13 minutes away from the closing bell, the dow is up 132 points. ♪ ♪ i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so glad we did this. i'm so... ...glad we did this. [kid plays drums] life is for living. let's partner for all of it. i'm so glad we did this. edward jones this is spring semester at over 13,000 us school districts, which have become top targets for ransomware attacks. but there's never been a reported ransomware attack on a chromebook. which is why thousands of schools like the fairfield-suisun unified school district switched to google tools for education. so they can focus on teaching and 22,000 students can focus on learning, knowing that their data is secure. ( ♪ ) he hits his mark —center stage—and is crushed by a baby grand piano. you're replacing me? . . nice footwork. man, you're lucky, watching live sports never used to be this easy. now you can stream a

we're still in the red but latest on caroline ellison's testimony at sam bankman-fried fraud trial. kids going at it. stay tuned. ♪ welcome to ameriprise. i'm sam morrison. my brother max recommended you. so my best friend sophie says you've been a huge help. at ameriprise financial, more than 9 out of 10 of our clients are likely to recommend us. our neighbors, the garcias, love working with you. because the advice we give is personalized, hey, john reese, jr. how's your father doing? to help reach your goals with confidence. my sister has told me so much about you. that's why it's more than advice worth listening to. it's advice worth talking about. ameriprise financial. we're traveling all across america talking to people about their hearts. ooh, take this exit. how's the heart? i feel like it's good. you feel like it's good? how do you know when it's time to check in on your heart? how do you know? let me show you something. it looks like a credit card, but it is the kardiamobile card. that is a medical-grade ekg. want to see how it works? yeah. put both thumbs on there. that is

that includes caroline ellison. she's the ex-ceo of his hedge fund and his former girlfriend potentially also his parents and his brother. but one of the biggest questions is whether bankman-fried himself will take the stand. lester >> kate rooney, thank you. >>> in 60 seconds, today's court appearance for the suspect of the killer of rapper tupac shakur the never before seen evidence in the case and what shakur's brother is saying right after this >>> we're back with a man charged in the 1996 murder of rap legend tupac shakur in court for the first time today. and we're also getting a look at the newly revealed evidence prosecutors showed to the grand jury here's miguel almaguer >> reporter: making his first court appearance today, the man accused of murder in the tupac shakur case will be arraigned in two weeks when he'll enter a plea and have a trial date set duane davis says prominent attorney, edi faal, will represent him. with no comment from faal, the confessed gangster is accused of orchestrating the drive-b

caroline ellison was the mile herest rhighest rank ing employ and his ex-girlfriend.a picture of sam being extremely involved and aware of the financial strain of his hedge fund and its use of ftx customer funds. the prosecution coming out swinging today, asking her right away, did you commit financial crimes when you were running sam bankman-fried's hedge fund? she said yes, then went on to say, quote, sam directed me to commit these crimes the she described bankman-fried wanting to make billions of dollars in investments through ftx ventures. alameda was the one funding those investments with loans, but bankman-fried didn't want alameda's name involved, so they called it ftx ventures instead. and they used something, you might have heard of nav, net asset value, they used something called nav minus sam coins. that was a way to look at the value of this hedge fund without all of the crypto-currencies sam either invented or invested in. by that calculation, the value of alameda, she said, was negative $2.7 billion. you might also remember bankman-fried acquired a 7% s

. >>> a few moments ago, caroline ellison, former ceo of alameda research and former girlfriend of sam-fried arriving in court. we expect to hear her testimony later on today. we'll get you up to speed on the recent developments in the case as soon as we can. >>> in the meantime stocks opening with some modest gains. back to 4346 on the s&p. the dow up almost 50 points ahead of a very busy session as q3 eniarngs heat up an the fed speak continues. don't go away. is it possible? with comcast business... it is. is it possible to help keep our online platform safe from cyberthreats? absolutely. can we provide health care virtually anywhere? we can help with that. is it possible to use predictive monitoring to address operations issues? we can help with that, too. with the advanced connectivity and intelligence of global secure networking from comcast business. it's not just possible. it's happening. (all) ♪ toooo youuuuu! ♪ (sean) i wish for the amazing new iphone 15 pro! (jason) sean! do you mean this one - the one with titanium? (sean) no way i can trade this busted up thing for one. (j

caroline ellison head the sister fund which was founded in berkeley. she pled guilty in december to wire fraud and conspiracy to commit money laundering. part of her plea deal included cooperating with the case against bankman fried. she said they defrauded people and bankman fried directed her to use deposits for loan repayments made by alameda research. >>> utah joined a list of states suing tiktok. they say they are misleading people about their relationship to the chinese parent company and luring children into unhealthy habits. the suit refers to research that suggests that children who spend more than three hours a day on to social m media have a higher chance for mental problems. >>> a plea from the housing industry. top real estate and banking officials are calling on the federal reserve to stop raising interest rates. today the national association of home builders, the mortgage bankers association and the national association of realtors sent a letter to the fed chair. the letter says the housing industry is suffering with surging housing cos

. >> you know, his right hand man in caroline ellison, who was the former girlfriend and others who have pled guilty and are now cooperating with the prosecution . those are really the core witnesses that everyone wants to hear from. >> do we expect any celebrities? as we know, there were many advertisements for him by celebrity endorsers. >> i think that that is probably unlikely. it's certainly part of the backdrop of this case. but the core of it is going to be the people who knew what mr. bankman-fried was doing in terms of diverting the money for his own personal purposes. >> what's his defense? >> his defense has focused on the lawyers said it was okay. you know, there is something in the law called advice of counsel all. and when your lawyer knows each and every fact and advises you that it's okay to conduct a certain act as part of your business, then you can say, well, i didn't intend to do anything illegal. i was relying upon the good legal advice of my lawyers. i think that's going to be a very hard defense to utilize, though. all right. >> so tell us, though, about the crypto

that includes taking aim at caroline ellison, who ran sister hedge fun alameda research and is also bankman-fried's ex-girlfriend. he faces a potential life sentence if convicted. he has pleaded not guilty. >>> well, jury selection began today in the trial of kaitlin armstrong. she's accused of shooting and killing an elite cyclist from san francisco last year. police say armstrong murdered 25-year-old pro cyclist mariah wilson in austin, texas, allegedly out of jealousy. after the killing, armstrong managed to evade police and flee to costa rica. then earlier this month, armstrong tried to escape from corrections officers but was caught shortly after. she faces up to 99 years in jail if convicted. she has pleaded not guilty. >>> there's another shake-up of sorts in the alameda county district attorney's office. the d.a., pamela price, is trying to fight off a recall effort, but this is a separate issue about some of the prosecutors who work for her. jessica aguirre joins us now with the details. >> when pamly price took office in january, she placed seven career prosecutors on paid administrative

. >> reporter: we have wild testimony yesterday including a moment where caroline ellison broke down so what has p sasam bankman-fried's ex-girlfriend sobbing? we'll tell you after the break. it's easy to get lost in investment research. introducing j.p. morgan personal advisors. hey david. connect with an advisor to create your personalized plan. let's find the right investments for your goals okay, great. j.p. morgan wealth management. hey you, with the small business... ...whoa... you've got all kinds of bright ideas, that your customers need to know about. constant contact makes it easy. with everything from managing your social posts, and events, to email and sms marketing. constant contact delivers all the tools you need to help your business grow. get started today at constantcontact.com constant contact. helping the small stand tall. why choose a sleep number smart bed? because only the sleep number climate360 smart bed lets you each sleep up to 13 degrees cooler or warmer on either side, while you both sleep at your ideal level of firmness, comfort and support. your sleep nu

that includes caroline ellison. she's the ex-ceo of his hedge fund and his former girlfriend. potentially also his parents and his brother. but one of the biggest questions is whether bankman-fried himself will take the stand. lester? >> kate rooney, thank you. >>> in 60 seconds, today's court appearance for the suspect of the killer of rapper tupac shakur. the never before seen evidence in the case and what shakur's brother is saying right after this. it hasn't been easy. now, i'm staying ahead of it. dupixent helps heal your skin from within. so, you can clearer skin and noticeably less itch serious allergic reactions can occur, that can be severe. tell your doctor about new or worsening eye problems, such as eye pain or vision changes, including blurred vision, joint aches and pains, or a parasitic infection. don't change or stop asthma medicines without talking to your doctor. ask your doctor about dupixent here at once upon a farm, we chose the new capital one venture x business card. with no preset spending limit, our purchasing power adapts to meet our business needs. a

most anticipated is the testimony of his one time girlfriend caroline ellison.fficer of bankman—fried's alameda research hedge fund. her testimony is likely to delve in to both alameda's business practices and her personal relationship with the 31—year—old former billionaire. the uk faces another five years of high interest rates to stem rising prices, according to an international monetary fund report. it expects the uk to have the highest inflation and slowest growth next year of any g7 economy including the us, france, germany, canada, italy and japan. however, the uk treasury said recent revisions to uk growth had not been factored in to the report. chinese company country garden said it might not be able to meet all of its offshore payment obligations, as the country's largest private property developer grapples with debt restructuring. companies accounting for 40% of chinese home sales — mostly private property developers — have defaulted on debt obligations since a liquidity crisis hit the sector in 2021, leaving many homes unfinished. those are the lates

gary wong, shawn fain, and caroline ellison, ceo of -- she is also sam bankman-fried's ex-girlfriend.testimony could be key in making the prosecution's argument. they will tell us what was going on in the final days at ftx. they will be the ones to watch out for. alix: stay tuned for full coverage of the ftx trial on bloomberg crypto beginning at 1:00 p.m. new york time. guess include -- justs -- guests include pat toomey and kristin smith. stay tuned for that. that wraps it up for us on what looks to be unfolding, a terribly ugly session. coming up, stephanie chu joins us. how much extension can we get? this is bloomberg. ♪ >> from the heart of where innovation, money and power collide, in silicon valley and beyond, this is bloomberg technology with caroline hyde and ed ludlow. ♪ caroline: i'm caroline hyde in new york and ed ludlow is on assignment. coming up, the trial of sam bankman-fried takes off in manhattan as he faces charges of swindling billions of dollars from his trip to platform. we will have full coverage ahead. a bipartisan group of u.s. senators are looking to visit c

caroline ellison said he directed her to commit crimes, before his now—bankrupt crypto—currency crypto—currencyding far beyond the region. many here in the us have family orfriends in the region, and are hearing of the events unfolding first—hand. live now to yair rosenberg. he's a staff writer at the atlantic. thank you forjoining us. yair, you've written a long article about the experience of a friend of yours who sheltered from hamas for ten hours in the safe room in their house in a kibbutz right beside gaza. an extraordinary tale of survival and determination. how is thejewish community in the us dealing with these atrocities? how have you been able to support friends and family members in israel at this time? yes, so israel is home to half of the worlds jewish people which meansjust of the worlds jewish people which means just by definition that many, many people have family there. and went something like this happens and what thousand people are just knocked out, and others are kidnapped and many others are wounded and brutalised, so people spend their time trying to find out what happen

caroline ellison said he directed her to commit crimes, before his now—bankrupt crypto—currency exchange—friedhe's pleaded not guilty. let's get back to the bbc�*s ongoing coverage of the israel—gaza war. these are live pictures from gaza city coming to us now. the impacts of the conflict are spreading far beyond the region itself. many here in the us have family orfriends in the region, and are hearing of the events unfolding first—hand. earlier, i spoke with marc ginsberg. the former us ambassador to morocco's nephew, eli, was killed rescuing hostages at a kibbutz. first of all, our condolences to you on the loss of your nephew. we appreciate you speaking to us at this time. you might start by telling us what you know about what happened to your nephew. mt; happened to your nephew. ij�*i nephew happened to your nephew. ij�*i1: nephew eli happened to your nephew. m1 nephew eli was happened to your nephew. ij�*i1: nephew eli was a happened to your nephew. i’i1: nephew eli was a lieutenant colonel in the commando unit that was called up and mobilised immediately after the saturday morning

caroline ellison is former ceo of the hedge fund created by bankman-fried.fluence and recognition. ellison will be back on the witnessstand today. bankman-fried faces 100 years in prison. >> todd: president of harvard is condemning group of 34 student organizations which signed letter supporting pro-palestinian fighters. the president releasing a statement saying, let there be no doubt i condemn the atrocities of hamas. no student group speaks for the university and a law student just lost a job offer after calling the attacks on israel necessary in a student news letter, writing israel bears full responsibility for this loss of life, this state-sanctioned violence created the resistance. the law firm responded say these comments are in conflict with the firm and the firm has rescinded the offer of employment. >> carley: members of the progressive squad are calling for deescalation between israel and hamas after terrorist carried out horrific attacks and the white house is speaking out against them. >> i have seen the statements this weekend and we will cont

sbf already testified against him, and caroline ellison told the court everything bankman-fried did,and she was his former girlfriend, and his former best friend testified against him. at this point there may not be a lot to risk by putting him on the stand, and trying to avoid the decades in prison. you have eyewitnesses that really put you in a corner. >> thank you. >> you bet. >>> marcus? >> now to a follow-up about a puppet show brought to a halt by thieves. the police are telling officers in richmond they recovered a stolen u haul truck that contained the costumes and puppets. this is a thousand-year-old persian love story this weekend in seattle. the thieves stole the truck late sunday night, and this was outside of the van ness hotel after their san francisco show. their publicist tells us they took the electrical equipment, but the show will go on as planned. >>> it's nice and clear in san francisco. >> yeah, we are enjoying a clear and crisp morning across the bay area. we are not yet seeing any fog, but as the sky clears and the wind calms down, the temperatures will drop o

. >> reporter: caroline ellison is on the witness stand. we just got news involving another crypto company binance, the executives used a billion dollars worth of customer funds to buy out the ceo, a big competitor to ftx at the time sam bankman-fried told ellison, she said, to borrow from ftx for the buyout because we, quote, have to get it done, that entire stake was worth about $2 billion. she went on to say she started working for sbf and the hedge fund was in much worse financial shape than she thought. it had suffered large losses. she described lenders pulling out and said more than half of the staff had quit. the prosecution really came out swinging today. she was the ceo. they asked if she committed financial crimes. she said without hesitation, yes. quote, sam directed me to commit these crimes. we're getting a slight break right now, scott. heading back in but we'll keep you posted. >> kate rooney, thank you so much. appreciate that. we're just getting started on "closing bell." shannon saccocia is with us as we round out a busy

caroline ellison. we have kate rooney with more. i was there. super bowl of the case. >> it was, andrew. caroline ellison had been calm and collected, but yesterday was the breaking point. she broke down crying talking about alameda and ftx. she said she felt a sense of relief that she did not have it lie and live in a constant state of dread. sam bankman-fried was aware he was siphoning money from alameda and ftx. alameda executives paid a $150 million bribe to the chinese government to unlock some accounts in foreign crypto exchange. we heard sbf confrontations. ellison said he blamed her for the mess they were in. we heard they were unhappy in the relationship and felt like an unequal partner and awkward tension in the courtroom. the defense will get a chance to cr cross examine ellison. >> i'm curious what will happen today with the cross-e cross-examination. >> they will try to poke holes in the story. big day for the defense. she was the key witness in all of this. their defense from the beginning and what he said publicly has been to shif

that includes his former girlfriend caroline ellison and his best friend from math camp who co-founded. they have been cooperating with the u.s. attorney's office for months in manhattan. as for the legal strategy, his lawyers hinted at advice of counsel defense. he was following the guidance of lawyers and did not realize what he was doing was illegal. worth noting, frank, this is the first of two separate criminal cases against sam bankman-fried. a second trial is slated for march of 2024 and that deals with additional charges after he was brought to the u.s. from the bahamas. >> mackenzie sigalos, thank you. >>> before we head to break, we are celebrating hispanic heritage month. here is frank del rio jr. >> as a first generation cuban american, my parent emigrated here. growing up in miami, it was a comforting feeling because i was surrounded by folks who understood my culture. now i'm able to raise my kids in miami, it is nice because we are able to keep our heritage alive. ♪ ♪ every single day, businesses everywhere are asking the exact same question: is it possible? well, with c

that includes caroline ellison. frank. >> kate, so much to unpack here. first question is sbf.ce of the criminal corruption? we are talking high profile celebrities. tom brady and steph curry involved as inveinvestors. >> i can't tell you how many times tom brady was brought up this week. they were showing photos of the celebrity endorsements and customers who testified and one said that is the reason why ftx had a veil of legitimacy. there was a lot of brand awareness. we don't expect celebrities to testify. they have not been on the witness list. they are facing their own class action lawsuits. that could be theger issue. >> one ad said steph curry is not a crypto expert. i want to talk about the sentiment in crypto. what do we see with crypto stocks and the coins? >> interesting about a year ago when this was unfolding it had a major impact on prices. there were worries of contagion in the lending going on. that hit prices. it has been stable since. bitcoin has been less volatile. investors are chalking the case up to fraud and saying this is a criminal case and not say it h

>> reporter: caroline ellison has been on the stand. her time in alameda. in order to plug a hole at ftx, the company ellison said bankman-fried was trying to raise money from saudi arabian investors, prince mohammed bin salman, mbs, and later alameda paid a $150 million bribe to the chinese government in order to unlock some accounts on a chinese crypto exchange. before they did that, one of the options was to use fake accounts to withdraw funds. they were thai prostitutes, that is according to ellison. that failed so they transferred $150 million to the chinese government through cryptocurrency. they wrote about it calling it just the thing, the $150 million thing, to cover it up. there was an employee that pushed back around all of this allegedly in a meeting he told her to shut the eff up, was known for these outbursts in stressful situations. ellison said they used what they called "the new york times" test, so anything that could have been written on the cover of "the new york times" you wouldn't want in writing, that was a mantra

>> reporter: scott, so caroline ellison has taken the stand, going out with opening testimony.ut swinging. we would call it an explosive ten minutes we just heard from the prosecution going into it, saying did you commit financial crimes? she was the ceo of the hedge fund, she said yes, unequivocally. they had her stand up and look around the courtroom to try to find sam bankman-freed. she got up, pointed around and found him and said yes, he was part of this. one quote i want to read you, she said, "sam directed me to commit these crimes," so pointing directly at him saying he was the one directing her to commit these crimes. also said that they have this unlimited line of credit that we have learn before, received money directly into bank accounts into alameda, and sam set up systems and directed the executives to use customer info. so saying that sam directed her to commit financial crimes. her demeanor, relatively calm for the weight and severity of this. she was very, very calm considering the circumstances. we also just heard from gary wong, who is on his way out. he was

caroline ellison is due back on the stand after offering up more testimony on the collapse of ftx. blaming sam bankman-fried for corrupting her values and creating justifications so she could do things she now says were wrong and illegal. ellison became emotional at times during the testimony said the collapse of ftx resulted in a relief i didn't have to lie any more. >>> microsoft revealing it received a notice from the irs that it owes nearly $29 billion in back taxes. in a regulatory filing, the tech giant says the issue stems from profits between countries and jurisdictions between 2004 and 2013. $10 billion in taxes it already paid and not reflected in the irs figure and it plans to fight the notice. >>> disney open efffficially ra prices on the disney plus plan today. the cost jumping from $10.99 to $13.99 a month. disney raising the cost of hulu ad free plan by $3 to $17.99. frank, it is getting expensive to watch tv. >> it is. now streaming channels are all raises prices makes we want to stay with cable. silvana, thank you. >>> now turning to capitol hill and the story with

face to face in this manhattan courthouse with hi former girlfriend and ex-business partner caroline ellison type since he allegedly leaked her personal diary to "the new york times." 28-year-old ellison taking the stand as part of her own guilty plea deal with federal prosecutors, telling the court she committed crimes with bankman fried and admitting crypto hedge fund took around $14 billion of ftx customer money. when asked if ftx customers knew how their money was being used, ellison telling the court, not to my knowledge. for big decisions, she testified she would defer to sam and felt not particularly equipped for the job. >> it's well known sam had a significant amount of control over her. >> reporter: we spoke to a former research software engineer who described the moment ellison revealed the company was going under. >> caroline said they had taken in ftx customer funds and used that to pay back these loans which is why the funds were not there when the customers withdrew them. she seemed apologetic. she was tearful. there was some crying involved. she started by saying she was sorr

caroline ellison who has already pleaded glet to a number of charges and is cooperating with prosecutorscted her to commit her crimes and is the man solely responsible for the loss of billions of dollars in customer funds. her testimony will continue today, frank. >> all right. silvana, thank you very much. >>> turning our attention now to washington d.c., where house republicans are slated to cast their votes to pick their next candidate for house speaker behind closed doors today. this vote coming just over a week after the vote to remove kevin mccarthy. emily wilkins joins us now. emily, good morning. what can we expect in today's proceedings? >> well, good morning, frank. there's a lot of uncertainty how today is going to unfold. we do know the house republicans as you said, they're going to vet this morning on who they want their nominee for speaker to be. last night members heard from jim jordan and steve scalise. they made their pitch on why they should wind up being the speaker nominee. neither currently has enough votes to win the gavel. members are pretty divided between who th

caroline ellison is the former ceo of alameda research, a hedge fund created by bankman-fried.he pleaded guilty to multiple fraud charges last december and bankman-fried is accused of using money to create fraud. this week i sat down with america's news room cohost dana perino for short cohost question series and asked me, if you could be a character from any tv show or movie, what would i be? multiple choice? john dutton from yellowstone, superman, or indiana jones. will: you answered a. no doubt. carly: i say a as well. pete, i think the answer -- let's queue it up. yeah, indiana jones. looking for really important stuff. came out when i was a child -- will: history. pete: came out when i was a kid, i loved it. he's trying to find the holy grail. it's like a meaningful thing. carly: totally. pete: i want to thank dana. listen to her podcast, everything will be okay on the podcast. carly: i'm excited for her as well. will:cosm up, former special ops derrick anderson gained a major endorsement to flip a virginia house seat red. he's coming up. carly. the fallout over the defend

two men that he cofounded ftx with, and another woman by the name of caroline ellison who was the headalameda research, she also dated sam bankman-fried on-and-off for a while. she will give real insight. we don't know when they will beat up, at what point in the trial, but we will definitely be keeping an eye on their evidence. paul: bloomberg's legal reporter ava benny morris and reporting from the manhattan courthouse. some other court hearings we are watching in the u.s., new york officials say former president donald trump overvalued his properties to get cheaper financing and writes at the forbes billionaire list. the state presented evidence for its obligations. trump's defense team says that claims involve only successful and profitable transactions and have no victims. microsoft ceo satya nadella says it i could help its rival google extend its dominance on the search market. he took the stand at the company's antitrust trial and argued that google could pay publishers for exclusive right to content to make its ai-based search better. google has become a dominant force in onli

caroline ellison. she's back on the stand. kate rooney joins us with more outside the courtroom.porter: good morning. she is on the stand. i got out of the courtroom behind me. over the past two days we've heard an explosive testimony from caroline ellison, former head of the hedge fund and his one-time girlfriend. she arrived a bit of a change from yesterday. she showed up in a hat and sunglasses hiding her face. not today. no hat. holding her head up high. the defense kicked off cross-examination 3m. they're going to try to poke holes in what she told the jury yesterday. it is to have a slow start, guys. they're going through her job role focusing on her wanting to be the sole ceo of that fund and going through the lending agreements. to fireworks yet. bankman-fried has pleaded not guilty to seven counts of fraud and conspiracy. the defense attorneys tried to say what bankman-fried did was bad risk management and not fraud and in part have tried to shift the blame to ellison. the defense team hasn't hit any home runs so far. other cross-examinations we've seen, the judge has sc

. >> stuart, it's none other than caroline ellison and she's the ceo of the research company at the centerud trial, and she happens to be sam bankman-fried's ex-girlfriend. it is an understatement to say that she's the most anticipate the witness of the trial. what we're expecting is explosive testimony about the behind the scenes of the operations of ftx, but also some really juicey details on their relationship, who sam bankman-fried was as a person. one piece of evidence that the prosecution is planning to introduce: her dire. that's going to -- diary and detailing her dynamic and innermost thoughts and days leading up to the collapse. she's the prosecution star witness and a key part of the defense. from opening statements, we know that they plan to blame a lot of this on her so this could really devolve into a heated he said she said and they'll finish cross of gary wang and he's testifying in exchange for leniency and it's focused on refuting sam bankman-fried's defense that he didn't know what was going on. i'll share one standing revolution with you, he shared that he discovered al

caroline ellison among them, his ex-girlfriend.that and he is, the defense team is trying to paint a picture of sbf not having criminal intent. he really is the last big witness, the defense called two other witnesses but it's all about sam bankman-fried until this trial wraps up. >> thank you both so much. >>> the death toll is climbing in mexico from a surprisingly powerful hurricane. >> otis made landfall yesterday. several others remain missing. tens of thousands are left without power. what can you tell us about the damage left behind here. >> reporter: at least half a million customers were affected by these outages. yesterday the president was in the area and he said it looked like nearly every utility pole had been knocked over. the highway system has also been severely damaged. main highway that connects that area to the rest of the country, had a lot of damage, they've been able to open one lane going towards acapulco and one lane going toward mexico city. of course hotels, shopping centers, hospitals, all suffered extens

so the defense hinting that some of these conversations we don't have evidence of, that it's caroline ellison'sd versus sam bankman-fried. we learned about another boyfriend she had. during the cross-examination, she talked about a former employee that she was dating. one notable admission, she said they could have been better leaders, and that sam bankman-fried may not have nobody about certain issues with bank accounts. there was a side bar we just learned about yesterday in the court transcript. the prosecution went up to the judge and said that sam bankman-flied was reacting to certain comments, laughing at certain points. the judge said you need to speak to your client about that. it could affect the jury and the witness. the judge basically saying top to your client and tell him to stop reacting. we'll bring you updates as we get them. >> kate, thank you very much. a saga indeed. >>> coming up, we're on watch for the white house's next move in the israel-hamas war. and what that all means for the surging deficit. we'll ask one strategist next. >>> a closer look at the health of the consum