Brutal Cross-Examinination by Prosecutors Leaves Bankman-Fried on Edge in His Historic Fraud Trial
Disgraced FTX founder Sam Bankman-Fried testified on Monday in his historic fraud trial, stating that he believed his hedge fund Alameda Research ‘had enough assets to cover an $8 billion debt’ to the cryptocurrency exchange – up until days before both collapsed.
Taking the stand in his own defense at trial, the 31-year-old former crypto bro told jurors that ‘he was concerned and surprised, but not alarmed’, upon learning – in October 2022 – that Alameda had borrowed a total of $8 billion from deposits that FTX customers sent to the exchange.
Reuters reported:
“‘If it were far larger, I would have been calling a crisis’, Bankman-Fried said from the witness stand in Manhattan federal court in response to questions from his defense lawyer,
