Sam Bankman-Fried’s perspective on FTX fall
Sam Bankman-Fried testified in court this week, denying any wrongdoing between FTX and Alameda Research despite admitting “big mistakes."
Auto Added by WPeMatico
Sam Bankman-Fried testified in court this week, denying any wrongdoing between FTX and Alameda Research despite admitting “big mistakes."
The former FTX CEO reportedly said the donations made in his name came from “loans from Alameda Research” as part of efforts to influence U.S. regulations on crypto.
The former FTX CEO faces seven counts of conspiracy and fraud. A New York court will decide his fate.
As the final witness in his defense case, the former FTX CEO placed some of the blame for the crypto exchange’s failure on Gary Wang and Nishad Singh.
The former FTX CEO returned to the witness to present his testimony to a jury of 12 people as the criminal trial begins to reach its final stages.
The testimony will challenge the government‘s claims, especially the counsel’s role in auto-deletion, North Dimension creation, Payment Agent Agreement, Alameda loans, and FTX Terms of Service.
SBF taking the stand in his criminal trial is “a very bad move,” as the FTX co-founder will be “skinned alive” by prosecutors, says Anthony Scaramucci.
The former FTX CEO will take the stand in his own defense. Will it be enough to counter the narrative introduced by former employees and expert witnesses?
After much speculation, the former FTX CEO will be one of only a handful of witnesses to testify for his defense in the criminal fraud case.
Options reportedly include selling the entire exchange, including its extensive customer base of over nine million, to potentially forming a partnership with another entity to revive the platform.