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the two guys copped to please Caroline Ellison and uh Gary black pancakes and but it turns out that they actually did engineer a back door into FTX and Alameda has been doing this [Music] hey guys welcome back to Library of wealth today we have chamoth on the all in podcast giving us an update on the collapse of FTX and how the story will end for Sam bankman freed as the unwinding of FTX continues were seeing an in-depth picture of the fraud that took place and with Sam being granted a 250 million dollar bail just one day after former CEO of Alameda research Caroline Ellison and FTX co-founder Gary Wang pled guilty to federal charges and admitted guilt and securities violation the cooperation of Ellison and Wang who admitted playing active roles in the companys fraud is likely to be a key in the case against magnan freed theyve admitted that the Senior Management was aware of law breaking in the movement of customer funds between the two firms bingman freed was arrested last week i