1. Explosive Testimony: Caroline Ellison, the former girlfriend of Sam Bankman-Fried and a top executive in his cryptocurrency business, accused Bankman-Fried of stealing billions from customers, investors, and lenders. Her testimony is considered the U.S. government's trump card in the trial against the FTX founder.

2. Mastermind of Fraud: Ellison portrayed Bankman-Fried as the person who engineered a massive fraud scheme, directing billions in FTX customer money to Alameda Research, an investment firm he founded.

3. Risky Business Decisions: Ellison revealed Bankman-Fried's willingness to take extreme financial risks. She cited an instance where he wanted Alameda to invest $3 billion in speculative investments, even when it was demonstrated that such an investment would make Alameda financially unstable.

4. Manipulating Financial Records: Ellison testified that Bankman-Fried directed her to manipulate balance sheets and financial information to present a more favorable picture of Alameda's financial health.

5. Bribery and Deception: Ellison mentioned a potentially illegal action where Alameda transferred $100 million in payments to what she understood to be Chinese government officials to unfreeze a trading account, which could constitute a bribe.

6. Emotional and Professional Complexity: Ellison described a difficult power dynamic between her and Bankman-Fried, especially since they were dating while he was also her boss. This made her more deferential to him in business matters.

7. Collapse and Legal Consequences: By late summer 2022, Alameda had funneled more than $14 billion from FTX customers without their knowledge, leading to the collapse of both FTX and Alameda, and the arrest of Bankman-Fried.

8. Financial Misrepresentation: Bankman-Fried was found to have made public claims contrary to the real financial situation of his businesses, stating on social media that his businesses were fine, even as they faced financial crises.

9. Failed Plans to Secure Funds: Ellison revealed that Bankman-Fried had plans to secure money from Mohammed bin Salman, the crown prince of Saudi Arabia, to pay back Alameda’s loans. However, this funding never materialized.

10. Ellison’s Own Legal Position: Ellison has pleaded guilty to several criminal charges and is cooperating with federal prosecutors against Bankman-Fried, hoping for leniency when she is eventually sentenced.