SBF ultimately testified in court without any jurors

FTX Founder Sam Bankman-Fried Testifies his fraud trial There was no jury present Thursday. In his testimony, he admitted that Alameda was being used as a payments processor for FTX, but did not remember conversations about the $13 billion hole in his crypto empire, according to bloomberg,

Bankman-Fried is on trial FTX is allegedly defrauding customers Out of billions of dollars. The prosecution completed its case before the lunch break on Wednesday, and just minutes before the SBF was to take the stand, Judge Lewis Kaplan unexpectedly sent jurors home to determine whether the defense’s testimony would make any sense in the case. Was it relevant or not?

Much of Bankman-Fried’s time on the stand focused on the auto-deletion of “informal conversations” on Signal and messaging apps. Rough drafts of Almeida’s balance sheet were sent back and forth between him and Caroline Ellison on the app, which they considered informal.

SBF tells a story of FTX where blame can be spread evenly throughout the executive branch. Chief Regulatory Officer David Friedberg, FTX President Brett Harrison and their general counsel, Ken Sun and Raine Miller, were specifically called out in their testimony. However, little evidence was presented on Thursday that anyone took as much responsibility as the SBF.

Friday morning, the jury will return to the courtroom. Judge Kaplan will determine what jurors are allowed to hear, however, as the testimony was live-tweeted around the world, and they heard every detail. Bankman-Fried’s defense will continue by presenting a case that started out exactly as you’d expect: chaotic and disorganized.

The prosecution fully disclosed Sam Bankman-Fried’s fraudulent access to FTX in the weeks before this testimony. Forensic Accountant Dave Easton Presented a picture in which $9 billion was invested in FTX client funds without their consent.

Amid the SBF’s testimony, other cryptocurrency exchanges are facing pressure from US regulators. Binance claimed this American law does not control the world In connection with the Commodity Futures Trading Commission’s lawsuit against him. New York Attorney General filed suit The crypto empire of the Winklevoss twins To defraud New Yorkers of low-risk, high-return crypto investments.

Despite regulatory battles, there is a period of optimism in cryptocurrencies. speculations around bitcoin etf It looks like it is ready to enter the market soon, pushing the price of Bitcoin to an 18-month high.

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