Sam Bankman-Fried on Verge of Tears as His Lawyer Concludes Defense
Trial of Sam Bankman-Fried (Danny Nelson/CoinDesk)
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SBF Trial
Trial of Sam Bankman-Fried (Danny Nelson/CoinDesk)
The FTX founder was never a man of crypto and the industry is moving on without him, says Laura Shin.
“So, it’s your testimony that your supervisees told you to stop asking questions?” asked a prosecutor. “Did you call in your lieutenants and ask ‘who spent $8 billion?'”
A set of filings from Sam Bankman-Fried’s defense team late Monday shows his attorneys still hope to clarify that English law governed FTX’s terms of service – which may have implications on the fraud charges.
The FTX founder was grilled Monday by a prosecutor, who used the many words he said to journalists after his crypto company’s collapse against him.
Sam Bankman-Fried will continue his defense Monday against allegations he committed fraud and conspired to commit other forms of fraud in operating FTX and Alameda Research.
Digital Currency Group CEO Barry Silbert asked Sam Bankman-Fried for help, SBF testified Friday (DCG)
“I believed the funds came from Alameda’s operating profits” as well as third-party lenders, he testified Friday at his fraud and conspiracy trial.
The former crypto billionaire’s lawyer focused on trying to spin prosecutors’ narrative about FTX and Alameda Research’s collapse in a way more favorable to SBF.
Sam Bankman-Fried began his testimony like the brilliant former golden boy from crypto’s better days. He ended the longest, strangest, most torturous day yet of his criminal trial more imperiled than ever before.