Sam Bankman-Fried Denies Knowing FTX Money Was Missing, as He Concludes Testimony
The founder of the FTX crypto exchange was grilled by a federal prosecutor for a second day, just before both sides rested their case in the criminal fraud trial.
Speaking in his own defense at his criminal trial, the FTX founder denied he had committed fraud but acknowledged missteps that hurt the cryptocurrency exchange’s customers.
The disgraced crypto king, on trial for financial fraud, takes the stand. But his hair tells its own story.
They are set to start their defense on Thursday, with the FTX founder planning to testify in his criminal fraud trial. Hurdles include what Mr. Bankman-Fried’s former associates said on the stand.
The FTX founder’s plan to take the witness stand sets up a dramatic few days of testimony at the federal courthouse in Manhattan.
The presence of crypto YouTubers, podcasters and commentators at the FTX founder’s fraud trial has created something of a culture clash in the courtroom.
Prosecutors in the criminal fraud case have built the most intricate account to date of the cryptocurrency exchange’s frantic final days.
Letitia James has accused Gemini Trust, Genesis Global Capital and Digital Currency Group of misleading investors in a program promising low risk and high returns.
Nishad Singh, testifying at Mr. Bankman-Fried’s fraud trial, said FTX customer deposits were used to buy luxury real estate and to pay athletes like Tom Brady and Steph Curry for endorsement deals.
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