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Caroline Ellison, former chief executive officer of Alameda Research LLC, leaves Manhattan Federal Court after testifying during the trial of FTX CEO Sam Bankman-Fried, on October 10, 2023 in New York City. 

Michael M. Santiago | Getty Images

In an all-hands meeting on the evening of Nov. 9, 2022, Alameda Research employees gathered in a circle to listen to CEO Caroline Ellison, who was sitting on a beanbag.

It was 11 p.m. in Hong Kong, and roughly half of the employees — 15 people — at Sam Bankman-Fried’s crypto hedge fund were present. Christian Drappi, a former software engineer at Alameda, was one of them. Ten others joined via video from the Bahamas. The Alameda office was across the street from FTX, Bankman-Fried’s crypto exchange.

On Thursday, Drappi took the stand as a government witness in the criminal trial against Bankman-Fried, which is taking place 11 months after Alameda and FTX spiraled into bankruptcy. Bankman-Fried faces seven federal fraud charges and the potential of life in prison. He’s pleaded not guilty.

Drappi’s appearance on the stand in Manhattan came at the end of Ellison’s third day of testimony and included a recording of the Hong Kong meeting. Rick Best, a trader who had joined Alameda just days earlier, was directly to Ellison’s right and secretly recording the meeting as audio.

The prosecution played multiple clips from the recording, and the defense team played one in cross-examination.

To a packed courtroom, Drappi described Ellison’s demeanor that night as “sunken.” He said she was “kinda slouching” and “did not display confident body language.”

“Alameda borrowed a bunch of money,” which it used to make investments, Ellison said on the recording. But as crypto prices fell, “FTX had a shortfall of user funds” and then “users started withdrawing their funds” and they “realized they would not be able to continue.”

Drappi can be heard on the tape asking about FTX’s plan to pay back customers. Ellison, who has pleaded guilty to fraud charges and is cooperating with prosecutors, responded that the company would raise money to fill the hole. Drappi told the jury that he was concerned with that response because it’s not typical to raise outside money for that purpose.

Drappi asked Ellison if Alameda’s loans were collateralized through the spot margin group. She said they weren’t, and Drappi said, “That seems pretty bad.”

Drappi wanted to know from Ellison if this was a “YOLO thing.”

He was asked in the courtroom to explain YOLO, and said, “It’s an acronym for ‘you only live once.'”

“When you do a YOLO thing, it’s something that’s spontaneous and not premeditated,” Drappi said. “I wanted to have Ms. Ellison confirm that indeed, you know, they had meetings about this and there was a deliberate decision, as I suspected it would be.”

At one point on the recording, Ellison giggled. Drappi, who said he’d known Ellison for a year and a half, described that as her “nervous laughter” and said she did it quite often.

When she was asked by a staffer whose idea it was to plug Alameda’s loan losses with FTX customer money, she said, “Um, Sam, I guess,” and giggled.

“FTX basically always allowed Alameda to, like, borrow user funds, as far as I know” she said on the recording.

Drappi resigned within 24 hours.

Caroline Ellison is questioned during Sam Bankman-Fried’s fraud trial over the collapse of FTX, the bankrupt cryptocurrency exchange, at Federal Court in New York City, U.S., October 11, 2023 in this courtroom sketch. 

Jane Rosenberg | Reuters

Drappi started at Alameda on May 31, 2021. Over the next 18 months, he worked in three offices: Hong Kong, the Bahamas and San Francisco. He was in Hong Kong as the business was falling apart.

In his testimony, Drappi said he observed Bankman-Fried working at the Hong Kong office and sat about 40 feet from him there for a couple months. The two hung out some out of the office, including to play padel, a hybrid of tennis and squash.

Drappi said Bankman-Fried maintained direct communications with Alameda employees through Signal. He weighed in on large trades and had access to “pointer,” Alameda’s internal interface, as well as to the firm’s back-end data.

In regards to trading, Drappi referenced one instance in which a senior trader said “Sam wanted to do it,” referring to a trade involving selling Japanese bonds and buying the currency. Drappi said he spoke to Alameda traders every day.

The night before the all-hands meeting, Nov. 8, Drappi said he was in the office along with Ellison and two traders, Tony Qian and David Nyeste. At about 11 p.m., Bankman-Fried posted a tweet announcing that Binance was buying FTX, in what would amount to a rescue of the exchange.

Drappi said the response was “shock.”

The Binance agreement was non-binding. On Nov. 9, the rival exchange backed out of the deal, and CEO Changpeng Zhao said FTX’s “issues are beyond our control or ability to help.” Two days later FTX declared bankruptcy.

WATCH: Caroline Ellison details SBF’s involvement in running Alameda

Caroline Ellison details SBF's involvement in running Alameda Research: CNBC Crypto World

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Autel 3,072Wh LFP power station with AI voice assistant at new $1,659 low, Rad Power RadRover 6 Plus e-bike at second-ever $1,199 low, more

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September 19, 2025

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Autel 3,072Wh LFP power station with AI voice assistant at new ,659 low, Rad Power RadRover 6 Plus e-bike at second-ever ,199 low, more

We’ve got some exciting deals closing out this week’s Green Deals, leading with the Autel Home 3000 Portable Power Station that sports an AI voice assistant at a new $1,659 low. Next, Rad Power Bikes is having a weekend flash sale on its RadRover 6 Plus e-bike that drops it to the second-ever $1,199 low, while Birdfy’s Nest Polygon Smart Solar Birdhouse with a camera is back at its $200 low, with many other houses/feeders seeing discounts too. From there, we have Navee’s autumn e-scooter sale, some tariff relief on EGO’s 56V batteries, and more waiting for you below. And don’t forget about all the hangover deals collected at the bottom of the page, like yesterday’s Bluetti power station and alternator charger bundle deals, the Heybike Golden Fall e-bike Sale, and more.

Head below for other New Green Deals we’ve found today and, of course, Electrek’s best EV buying and leasing deals. Also, check out the new Electrek Tesla Shop for the best deals on Tesla accessories.

Autel’s new Home 3000 portable 3,072Wh LiFePO4 power station with an AI voice assistant hits a new $1,659 low ($400 off)

By way of its official Amazon storefront, Autel is offering the best price yet on its new Home 3000 AI-supported Portable Power Station for $1,659 shipped, after clipping the on-page $400 off coupon, beating out the brand’s direct website pricing by $40. While it’s been on the market since April, it only became available on Amazon in early August, which we’ve seen taken down to $1,689 once before. That price is getting beaten out by the deal popping up today, which cuts $400 off the going rate for the all-time lowest price we have tracked.

While Autel may be best known for its EV charging stations, the brand has stepped further into the power solution game with its Home 3000 portable power station that puts an AI assistant front and center next to its 3,072Wh LiFePO4 capacity, which is something we haven’t seen from any of our typical favorite brands at 9to5Toys. Of course, there are the usual in-app smart controls available too, but it’s nice to see some hands-free voice commands being added in here, which range from setting timers to adjusting wattage levels, and more. Another feature that we have only seen on much more compact units is the inclusion of two wireless 15W charging pads for your iPhone, AirPods, or Apple Watch. That’s not all, as this Autel portable power station sports a total of 17 output port options, also offering five AC outlets, four USB-A ports, two USB-C ports, two DC outlets, a car port, and an RV port.

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Through this Autel portable power station’s many output options, it delivers up to 3,000W of steady power to connected devices, appliances, and RVs, able to surge as high as 6,000W when needed. Among its recharging methods, it’s also quite a surprise to see a 200W max wind power input that can be gained from portable turbines that have begun popping up across the market more and more recently. There’s also the usual option to charge via an AC outlet to 80% in 50 minutes or to full in 1.2 hours, while also having a max 1,500W solar input and an option to charge via a USB-C port too.

Rad Power RadRover 6 Plus e-bike standing on a boulder in dense forest

Rad Power Bikes drops RadRover 6 Plus e-bike to second-ever all-time $1,199 low in weekend flash sale

Running alongside its ongoing Fall Savings Sale with several e-bike bundles (including extra batteries), Rad Power has launched a weekend flash sale through September 21 that is giving us a second-ever chance at the best price on its RadRover 6 Plus Fat-Tire e-bike for $1,199 shipped. Coming down from its $1,599 price tag, we usually see this model drop between $1,399 and $1,299 over 2025, with only one previous fall to this all-time low rate that occurred back in January. Now it’s coming back to save you $400 at the best price we have tracked, equipping your commutes and joyrides across any terrain with a reliable and durable model that has been a favorite of my family for years.

If you want to learn more about this e-bike, be sure to check out our original coverage of this weekend flash sale here.

Birdfy's solar-powered Nest Polygon birdhouse attached to tree

Welcome and enjoy nesting visitors in this solar-powered birdhouse with a smart camera at its $200 low

If you pop in to its official Amazon storefront, you can find Birdfy offering its Nest Polygon Smart Solar Birdhouse with camera back at $199.99 shipped, which also matches Best Buy’s pricing as part of its Deals of the Day promotions, and beats out the brand’s direct pricing by $20. While it did carry a $280 MSRP earlier in the year, recently it fetches $260 at full price, with the cost mostly kept between $220 and $210 with discounts, and one previous fall to this low rate back during Prime Day in July. You’re getting a second chance at the best tracked price here today, with the 23% markdown cutting $60 off the tag.

If you want to learn more about this birdhouse, as well as the full lineup of smart birdhouse/feeder discounts, be sure to check out our original coverage of these deals here.

man riding Navee GT3 Max electric scooter down street

Ride into autumn with up to 20% discounts on Navee’s electric scooters + bonus and bundle savings – all starting from $360

Navee has launched its Autumn Sale that is taking up to 20% off a lineup of electric scooters, complete with bonus savings (using the code AFF50), bundle discounts, and more. Among the lineup, a great model for college students needing a reliable way around campus/town is the GT3 Max Smart Electric Scooter for $649.99 shipped with a FREE phone mount, after using the sitewide code AFF50 for an additional $50 off. It’s down from its usual $730 MSRP for the time being, which is where it’s currently priced at Amazon. This is the latest model under the brand’s flag, coming behind the flagship ST3 Pro model, which hit the market back in July and has dropped as low as $693 at Amazon, with the brand’s direct sales so far having seen it go to $620 and a one-time $561 low during August’s Back to School Sale. You’re looking at the third-lowest price tracked while the sale continues, giving you $80 off the going rate and giving your commute a much smarter solution.

If you want to learn more about this e-scooter’s capabilities, as well as browse the full lineup of discounts, be sure to check out our original coverage of this sale here.

EGO's 56V 10.0Ah Battery

Gain some tariff relief on EGO’s 56V 10.0Ah battery at the best price since hikes at $494

Right now at Amazon you can pick up the EGO Power+ 56V 10.0Ah Battery at $494.10 shipped, after clipping the on-page discount. This larger power solution for your tool arsenal used to go for $499 at full price, however, it looks like tariffs might have affected the market since July, much like we’ve seen with many brands, including Sonos, with a new $549 MSRP popping up across retailers, like Lowe’s, ACE Hardware, and more. The deal here now is cutting $55 off the hiked price tag, giving folks the best price we’ve tracked since April, with this being a repeat of a discount we saw in July. You’ll also find other sizes of the brand’s discounted batteries on the same listing page, ranging from 2.5Ah to 12.0Ah.

If you want to learn more about this battery, be sure to check out our original coverage of this deal here.

Best Fall EV deals!

Best new Green Deals landing this week

The savings this week are also continuing to a collection of other markdowns. To the same tune as the offers above, these all help you take a more energy-conscious approach to your routine. Winter means you can lock in even better off-season price cuts on electric tools for the lawn while saving on EVs and tons of other gear.


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Lucid (LCID) is bringing a new $50,000 EV overseas

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September 19, 2025

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Lucid (LCID) is bringing a new ,000 EV overseas

Lucid-$50,000-EV-overseas

The new midsize electric SUV is set to go head-to-head with the Tesla Model Y and leading Chinese luxury brands. Lucid (LCID) confirmed it will launch the new midsize EV overseas, with prices expected to start at around $50,000.

Lucid will launch a new midsize EV SUV overseas

Lucid is going global. Last week, Lucid opened orders for its new Gravity electric SUV in Europe, promising the new luxury EV is “engineered for the distinctive demands of European roads.”

During the Gravity’s European debut at the 2025 Munich Motor Show, Lucid’s interim CEO, Marc Winterhoff, revealed a few new details about the company’s overseas expansion.

Winterhoff told Auto Express on the sidelines of the event that Lucid “will enter the UK with a mid-size platform.” Will it launch the Gravity first? That’s still up in the air for now.

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When asked if the Gravity would be sold in the UK, Lucid’s interim CEO explained that “Right-hand drive requires additional investment.” However, Winterhoff added, “as right-hand drive applies not just to the UK but a number of other potential markets, too.” According to local reports, this will likely include Australia, a key electric vehicle battleground.

Lucid-new-EV-overseas
The Lucid Gravity SUV (Source: Lucid)

The new midsize EV is set to arrive in the UK in December 2026 with a target price of around $50,000 (£36,900). At that, Lucid would undercut the Tesla Model 3 (£39,990) and Model Y (£44,990).

In Australia, prices could start at around AU 75,600 ($50,000). Although we will have to wait for official range and performance numbers, given that Lucid already offers some of the most efficient EVs on the market, you can expect nothing less from the new midsize EV.

Lucid-midsize-EV-overseas
Lucid midsize electric SUV teaser image (Source: Lucid)

Starting next year, Lucid plans to begin production on its midsize platform. The platform will wear at least three “top hats,” or different models.

Lucid told Electrek last year that the company plans to launch three new EVs based on its midsize platform. The first will be a crossover SUV, followed by a more rugged SUV that will pull design cues from the Gravity X concept, unveiled last month. The third has yet to be confirmed, but is rumoured to be a midsize electric sedan.

Lucid-new-$50,000-EV
The Lucid Gravity X (Source: Lucid)

In overseas markets, including Europe, the UK, and potentially Australia, Lucid will compete with Tesla and leading Chinese luxury brands such as BYD’s Denza, Zeekr, and XPeng.

First, Lucid will focus on ramping up Gravity sales. In the US, the Lucid Gravity Grand Touring is available starting at $94,900. Later this year, Lucid will add the Touring model, starting at $81,550.

The Gravity electric SUV starts at 116,900 euros ($137,000) in Germany, including VAT. Lucid said it will launch the Gravity Touring soon, starting at 99,900 euros ($117,000) in Germany.

Electrek’s Take

Lucid has been promising for years that as it advances new battery, powertrain, software, and other technology, it would unlock more affordable electric vehicles.

The luxury brands’ vehicle prices have already dropped significantly since the initial Lucid Air Dream Edition launched in 2021, which started at a whopping $169,000. Today, you can buy the 2025 Lucid Air, the “world’s most efficient car,” for under $70,000.

With a slate of more affordable, midsize models set to roll out, Lucid plans to take the brand overseas. The Lucid Air is the best-selling luxury EV sedan in the US, outselling the Tesla Model S. Its midsize SUV, starting at about $50,000, will likely be an even bigger hit.

The only question is… can it compete with the Tesla Model Y and Chinese luxury brands overseas? Let us know your thoughts in the comments.


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Rivian finally really releases its powered tonneau cover (for real this time) (really)

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3 hours ago

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September 19, 2025

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Rivian finally really releases its powered tonneau cover (for real this time) (really)

Rivian has added a powered tonneau cover retrofit to its Gear Shop, allowing certain R1T owners to purchase install of the long-promised feature. It has been available before, but only for short periods of time, and early versions have seen reliability problems in the past – but Rivian says this version is much better now.

Rivian has had a bit of a history with its Powered Tonneau Cover option, a feature that adds extending slats over the bed of its R1T truck in order to keep gear in the back safe, and can be extended or retracted by the press of a button.

It was originally offered as an option on early vehicles, but it soon became apparent that the feature was not as reliable as it should be, as many owners were having failures. Rivian stopped installing covers, offered fixes/replacements for those affected by reliability problems, and said the feature would come back and be available again in the future.

Owners also said that the original Powered Tonneau Cover was quite noisy to use.

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Since then there’s been a lot of back-and-forth about when the feature would become available again. We were all told in 2023 that it would show up in early 2024… but now here we are in late 2025.

There are third-party options available, but these are manual options that don’t have the benefit of being able to open and close with a touch of a button.

But now, finally, it looks like Rivian is ready to offer a first-party solution for this long-awaited feature.

Rivian quietly added the new Powered Tonneau Cover option to its Gear Shop yesterday costing $3,300 and available as a retrofit for certain R1T vehicles. Better yet, Rivian says the new version is “virtually noise-free,” which was not the case for the original cover.

We say “certain” R1Ts because it’s apparently not available for every vehicle. Per Rivian, “some R1T vehicles built without Tonneau Cover or Manual Tonneau Cover may not be compatible with our upgraded Powered Tonneau Cover due to wire harness limitations.”

Rivian has not specified further which vehicles are or are not qualified, but some owners on Rivianforums.com have started chiming in with whether their vehicles qualify, and it might be based on when your truck was built (based on VIN number).

We’ve noticed owners with VIN numbers between ~14k and ~19k have been told their trucks are NOT compatible, but owners with VINs above ~21k and some early owners with VINs of ~13k and under said they were told their trucks ARE compatible. So it looks like there might be a window of vehicles in the mid-late-teens that aren’t compatible, while early and more recent trucks are.

Some owners have even started getting the covers installed already. A few forum members posted their work orders, showing about $2,500 in parts and about 3 hours of labor to install the cover. The $3,300 flat cost for install includes both parts and installation at a Rivian service center.

When added as an option to a new vehicle in Rivian’s configurator, the price is $2,000 on R1T Dual configurations, but comes standard on R1T Tri and Quad.

If you’re looking to get the new Powered Tonneau Cover installed, head over to Rivian’s Gear Shop or call (855) RIVIAN5 to set up an appointment. You can even use your Rivian Rewards to pay for it, if you happen to have any from the use of a Rivian referral code.

The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.


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