FTX founder and former crypto billionaire Sam Bankman-Fried continued to testify Tuesday at his federal fraud and conspiracy trial.
testified Tuesday at his federal fraud and conspiracy trial he was unaware that while he was chief executive of Alameda Research, employees at the hedge fund were spending $8 billion of FTX customer funds.
Bankman-Fried stepped down as Alameda chief executive in 2021 so he could focus on FTX and said Tuesday he only learned two months before FTX collapsed into bankruptcy that Alameda had spent $8 billion in customer funds. "Money is fungible anyway," Bankman-Fried said. "I wasn't particularly interested in trying to dole out blame."
Bankman-Fried stepped down from his role at FTX in November 2022 amid a rapid collapse that ended with the company declaring bankruptcy. Prosecutors charged Bankman-Fried the following month with an array of alleged crimes focused on a scheme to defraud investors. She also testified earlier this month that Bankman-Fried thought there was a "5% chance he would become president," and that he believed in utilitarianism and thought rules against lying or stealing inhibited his ability to maximize the greatest benefit for the most people.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Sam Bankman-Fried says he didn't know about hedge fund spending $8BFTX founder and former crypto billionaire Sam Bankman-Fried continued to testify Tuesday at his federal fraud and conspiracy trial.
Weiterlesen »
Sam Bankman-Fried says he didn't know about hedge fund spending $8BFTX founder and former crypto billionaire Sam Bankman-Fried continued to testify Tuesday at his federal fraud and conspiracy trial.
Weiterlesen »
Bankman-Fried says he was unaware of FTX's missing $8B until just before collapseOn his final day of testimony, Bankman-Fried claimed he wasn’t involved in day-to-day decisions over the missing customer money
Weiterlesen »
Bankman-Fried 'Regrets' Not Probing $8B Debt to FTXFTX founder Sam Bankman-Fried concluded his defense in his fraud trial Tuesday, saying he felt 'regret' for not looking into the $8 billion his hedge fund borrowed from the cryptocurrency exchange before it collapsed last November.
Weiterlesen »
Sam Bankman-Fried Built a Crypto Paradise in the Bahamas—Now He's a Bad MemoryFTX staff lived the high life in the Bahamas. Following the exchange's high-profile collapse, the country is trying to rebuild its reputation.
Weiterlesen »
LIVE: Sam Bankman-Fried Takes the Stand for a Third Day in FTX Fraud TrialNikhilesh De is CoinDesk's managing editor for global policy and regulation. He owns marginal amounts of bitcoin and ether.
Weiterlesen »