Testimony Shows FTX Gender Discrimination

SBF ‘freaking out’ about Binance, Snapchat, and Capital

Caroline Ellison, unlike her male counterparts who turned against Bankman-Fried, took comparable risks but received much smaller rewards.

Testimony Shows FTX Gender Discrimination

Even though she held only a 0.5 percent stake in FTX and none in Alameda Research, she discovered that Bankman-Fried deemed granting her equity to be too complicated.

Testimony Shows FTX Gender Discrimination

Gary Wang, the former CTO of FTX, owned 16% of FTX and 10% of Alameda, whereas Nishad Singh, the former director of engineering at FTX, owned 5% of the company.

Bankman-Fried owned the preponderance of Alameda and more than half of FTX.

According to Fortune, Ellison’s compensation was significantly less than that of her male colleagues.

Despite having a base salary of $200,000 and substantial incentives, including a $20 million windfall in 2021, of which she invested half in a startup, her compensation was significantly lower than that of Bankman-Fried, Singh, and Wang.

Ellison disclosed during her testimony that Bankman-Fried repeatedly disregarded her concerns regarding risk management and pressed for risky actions despite her warnings.

She emphasized that Bankman-Fried instructed her to disregard significant risks taken by Alameda Research.

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